ANNUALREPORT 2013
59
2013/2018WARRANTS
On8th January2013, theCompany completed the listingof bonus issueof 250,800,000 freewarrants
on the basis of one (1) free warrant for every one (1) existing ordinary share of RM0.10 each in the
Company. Eachwarrant entitles the holder of the right to subscribe for one (1) new ordinary share of
RM0.10 each in theCompany at an exercise price of RM0.25 per warrrant.
The exercise price of thewarrant was revised downwards fromRM0.25 toRM0.22 and an additional
49,958,382warrantswas issued pursuant to the adjustment.
On29thJuly2013, theCompany increased its issuedandpaidupsharecapital bywayof renounceable
rights issue of 445,052,137 new ordinary shares of RM0.10 each together with 111,263,033 free new
detachablewarrantson thebasisofone (1)additionalwarrant forevery four (4) rightssharessubscribed.
Thewarrants issued are constituted under aDeedPoll executed by theCompany.
The salient features of thewarrants areas follows:
a) each warrant entitles the registered holder, at any time during the exercise period to subscribe
for one (1) new ordinary share at an exercise price of RM0.22 each, subject to adjustments in
accordancewith theprovision of theDeedPoll.
b) theexercisepriceand thenumberofoutstandingwarrantsshall beadjustedaccordingly toensure
that theoutstandingwarrantsholderswouldnot beprejudicedafter the rights issueof shareswith
warrants. The exercise price of warrants is adjusted fromRM0.25 toRM0.22.
c) the warrantsmay exercisable at any time within five (5) years commencing from and including
the date of issue of thewarrants and endingat 5pm on the expiry date.
d) thenewordinaryshares tobe issuedpursuant to theexerciseof thewarrantsuponallotment and
issue, shall rankpari passu inall respectwith theexistingordinarysharesof theCompanyexcept
that thenewordinary shares shall not beentitled toany dividends, rights, allotment and/or other
distribution thatmaybedeclared,madeor paidprior to thedateof allotment and issuanceof the
rights shares.
OTHERSTATUTORY INFORMATION
a) Before thestatementsofprofitor lossandothercomprehensive incomeandstatementsoffinancial
positionof theGroup and of theCompanyweremade out, the directors took reasonable steps:
(i) toascertain that proper actionhadbeen taken in relation to thewritingoff of baddebtsand
themakingofallowance fordoubtful debtsandsatisfied themselves thatnoknownbaddebts
need tobewrittenoff and that adequateallowancehadbeenmade for doubtful debts; and
(ii) to ensure that any current assets which were unlikely to realise in the ordinary course of
business theirvaluesasshown in thefinancial statementsof theGroupandof theCompany
had beenwritten down to anamount which theymight be expected to realise.
Directors’ Report
(Cont’d)
