PDF Print E-mail

Proposed Increase In The Authorised Share Capital & Proposed Rights Issue

05-02-2008

1. PROPOSED INCREASE IN THE AUTHORISED SHARE CAPITAL

On behalf of the Board of Directors of Asdion (“Board”), Alliance Investment Bank Berhad (“Alliance”) wishes to announce that the Company proposes to undertake a proposed increase in the authorised share capital of Asdion from RM5,000,000 comprising 50,000,000 Asdion Shares to RM10,000,000 comprising 100,000,000 Asdion Shares ("Proposed Increase in Authorised Share Capital").

The Proposed Increase in Authorised Share Capital is to accommodate the increase in the issued and paid-up share capital of the Company pursuant to the Proposed Rights Issue and any new Shares to be issued by Asdion arising from the exercise of Warrants pursuant to the Proposed Rights Issue.

The Proposed Increase in Authorised Share Capital is conditional upon approvals being obtained from the following:

(i) the shareholders of Asdion, at an extraordinary general meeting to be convened; and

(ii) any other relevant authorities/parties (if applicable).

The Proposed Increase in Authorised Share Capital is inter-conditional upon the Proposed Rights Issue.

2. PROPOSED RIGHTS ISSUE

On behalf of the Board, Alliance wishes to announce that barring any unforeseen circumstances and subject to all conditions precedent as set out in Section 4 of the announcement dated 1 November 2007, the Board expects the Proposed Rights Issue and the Proposed Increase in Authorised Share Capital to be completed by the second quarter of 2008.