On behalf of the Board of Directors of Asia Poly (“Board”), TA Securities Holdings Berhad (“TA Securities”) wishes to announce that the Company proposes to undertake the following:
(i) proposed renounceable two-call rights issue of up to 175,829,920 new ordinary shares of RM0.10 each in Asia Poly (“Asia Poly Shares” or “Shares”) (“Rights Shares”) on the basis of two (2) Rights Shares for every one (1) existing Asia Poly Share held on an entitlement date to be determined later (“Entitlement Date”), together with up to 58,609,973 free detachable warrants (“Warrants”) on the basis of one (1) Warrant for every three (3) Rights Shares subscribed by the entitled shareholders (“Proposed Two-Call Rights Issue of Shares with Warrants”);
(ii) proposed special issue of up to 39,561,000 new Asia Poly Shares (“Bumiputera Shares”), representing approximately fifteen percent (15%) of the enlarged issued and paid-up share capital of the Company after the completion of the Proposed Two-Call Rights Issue of Shares with Warrants, to Bumiputera investors to be recognised by the Ministry of International Trade and Industry (“MITI”) (“Proposed Special Bumiputera Issue”);
(iii) proposed establishment of a share issuance scheme (“SIS”) of up to thirty percent (30%) of the Company’s issued and paid-up share capital (excluding treasury shares, if any) at any one time during the duration of the scheme for the eligible persons (“Proposed SIS”);
(iv) proposed increase in the authorised share capital of Asia Poly from RM10,000,000 comprising 100,000,000 Asia Poly Shares to RM50,000,000 comprising 500,000,000 Asia Poly Shares (“Proposed Increase in Authorised Share Capital”); and
(v) proposed amendments to the Memorandum and Articles of Association (“M&A”) of Asia Poly to facilitate the Proposed Increase in Authorised Share Capital (“Proposed Amendments”).
good to buy ..quite stable to invest now as the company management doing good in profit ..and the poly demand is increasing for environmental friendly purpose.
It's good time to buy for midterm as profit increase , thumbs up to the new management , hopefully new management continue to give at least 5% dividend. Target price 0.50 by January
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Fat Cat Tim Buddy
2,340 posts
Posted by Fat Cat Tim Buddy > 2011-12-17 01:17 | Report Abuse
is this an example of a junk stock?