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Proposed Reorganisation
BackJan 05, 2005
| General Announcement Reference No CU-050104-61219 |
| Submitting Merchant Bank | : | ASEAMBANKERS MALAYSIA BERHAD |
| Company Name | : | ANCOM BERHAD |
| Stock Name | : | ANCOM |
| Date Announced | : | 05/01/2005 |
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| Type | : | Announcement |
| Subject | : | Proposed Reorganisation |
Contents :
We refer to the announcements dated 9 July 2003 and 4 June 2004 in relation to the Proposed Reorganisation.
Aseambankers Malaysia Berhad ("Aseambankers"), on behalf of the Board of Directors of Ancom, is pleased to announce that the Securities Commission had vide its letter dated 27 December 2004, which was received on 30 December 2004, approved amongst others, Synergy Trans-Link Sdn Bhd ("STL")'s application for an extension of time for additional three (3) months from 1 December 2004 to 1 March 2005 to complete the proposed issuance of 117,406,544 zero coupon of RM0.10 nominal value of irredeemable convertible unsecured loan stocks 2004/2009 to partly satisfy the proposed acquisitions and pursuant to the proposed capitalisation of debts ("Proposed Issuance").
The aforementioned SC's approval is subject to the following conditions: -
Aseambankers Malaysia Berhad ("Aseambankers"), on behalf of the Board of Directors of Ancom, is pleased to announce that the Securities Commission had vide its letter dated 27 December 2004, which was received on 30 December 2004, approved amongst others, Synergy Trans-Link Sdn Bhd ("STL")'s application for an extension of time for additional three (3) months from 1 December 2004 to 1 March 2005 to complete the proposed issuance of 117,406,544 zero coupon of RM0.10 nominal value of irredeemable convertible unsecured loan stocks 2004/2009 to partly satisfy the proposed acquisitions and pursuant to the proposed capitalisation of debts ("Proposed Issuance").
The aforementioned SC's approval is subject to the following conditions: -
(i) Aseambankers and STL are required to complete the Proposed Issuance within the extended timeframe;
(ii) To inform all parties involved in the Proposed Issuance of the extension of time and to obtain their approval, if required;
(ii) To inform all parties involved in the Proposed Issuance of the extension of time and to obtain their approval, if required;
(iii) Aseambankers and STL are required to obtain the relevant authorities'approval to extend the time frame for completion of the Proposed Issuance by 1 March 2005; and
(iv) Aseambankers is required to provide a written confirmation on the compliance with all the terms and conditions imposed pursuant to the above approval.