What I am interested in is WCT-WB, on page 14 stated this:
4.5 Convertible securities
The Proposals will give rise to adjustments to the existing convertible securities of the
Company, as follows:-
(i) Warrants B
The adjustment to the exercise price* of the outstanding Warrants B as a
result of the Proposals will be made in accordance with the provisions of the
deed poll dated 12 March 2008 constituting the Warrants B to ensure that the
status of the holders of Warrants B is not prejudiced as a result of the
Proposals. The rights and obligations of the holders of Warrants B will remain
unchanged, save for the adjustment to the exercise price* of the outstanding
Warrants B.
Note:-
* Strictly for illustrative purposes only, assuming the adjustment to the exercise price of
the outstanding Warrants B had already been effected as at 30 August 2012, the
current exercise price of Warrant B at RM2.50 shall be adjusted accordingly to RM1.85,
being the new exercise price of Warrant B.
(ii) Warrants C
The adjustment to the exercise price* of the outstanding Warrants C as a
result of the Proposals will be made in accordance with the provisions of the
deed poll dated 17 December 2010 and supplemental deed poll dated 30
August 2012 constituting the Warrants C, to ensure that the status of the
holders of Warrants C is not prejudiced as a result of the Proposals. The
rights and obligations of the holders of Warrants C will remain unchanged,
save for the adjustment to the exercise price* of the outstanding Warrants C.
Note:-
* Strictly for illustrative purposes only, assuming the adjustment to the exercise price of
the outstanding Warrants C had already been effected as at 30 August 2012, the
current exercise price of Warrant C at RM2.75 shall be adjusted accordingly to RM2.04,
being the new exercise price of Warrant C.
WCT - MULTIPLE PROPOSALS
Announcement Type: General Announcement
| Company Name | WCT BERHAD |
| Stock Name | WCT |
| Date Announced | 6 Sept 2012 |
| Category | General Announcement |
| Reference No | OI-120906-51129 |
| Type | Announcement |
| Subject | MULTIPLE PROPOSALS |
| Description | WCT BERHAD ("WCT" OR THE "COMPANY") (I) PROPOSED BONUS ISSUE OF SHARES; (II) PROPOSED BONUS ISSUE OF WARRANTS; (III) PROPOSED INCREASE IN AUTHORISED SHARE CAPITAL; AND (IV) PROPOSED AMENDMENT (COLLECTIVELY REFERRED TO AS THE "PROPOSALS") |
On behalf of the Board of Directors of WCT ("Board"), OSK Investment Bank Berhad ("OSK") wishes to announce that the Company proposes to undertake the following:-
(i) a proposed bonus issue of up to 180,255,280 new ordinary shares of RM0.50 each in WCT ("WCT Share(s)" or "Share(s)") ("Bonus Share(s)") to be credited as fully paid-up on the basis of three (3) Bonus Shares for every twenty (20) existing WCT Shares held on an entitlement date to be determined later ("Entitlement Date") ("Proposed Bonus Issue of Shares"); (iii) a propose increase in the authorised share capital of WCT from RM800,000,000 comprising 1,400,000,000 WCT Shares and 1,000,000,000 preference shares of RM0.10 each to RM1,100,000,000 comprising 2,000,000,000 WCT Shares and 1,000,000,000 preference shares of RM0.10 each ("Proposed Increase in Authorised Share Capital"); and Further details on the Proposals are set out in the attachment. This announcement is dated 6 September 2012. | |