Advanced Systems Automation Announces Major Rights Cum Warrants Issue
Advanced Systems Automation Limited has recently made a pivotal announcement following the approval of its Rights Cum Warrants Issue by shareholders during an extraordinary general meeting held on 8 November 2024. This decision is poised to have significant implications for shareholders and the company’s share price moving forward.
Key Highlights:
- The company is proposing a renounceable non-underwritten Rights Cum Warrants Issue.
- Shareholders will receive three (3) Rights Shares for every two (2) existing shares held.
- For every three (3) Rights Shares subscribed, shareholders will receive two (2) Warrants.
- The total number of Rights Shares to be issued is up to 1,093,521,189.
- Additionally, the company plans to issue up to 729,014,126 Warrants and the same number of Warrant Shares.
Important Information for Shareholders:
Shareholders and potential investors should take note of the following critical details:
- The Rights Cum Warrants Issue is expected to be listed and quoted on the Catalist of the SGX-ST, subject to compliance with the SGX-ST’s listing requirements.
- The approval of the listing and quotation notice (LQN) dated 12 November 2024 is contingent upon the company confirming a sufficient spread in the Warrants, as required under Rule 826 of the Catalist Rules.
- A comprehensive Offer Information Statement will be disseminated to entitled shareholders at a later date, detailing the specifics of the Rights Cum Warrants Issue.
Cautionary Note:
As a precaution, the company urges shareholders and potential investors to exercise caution when trading or dealing in the company’s shares. There is currently no certainty that the Rights Cum Warrants Issue will proceed as planned, which could significantly affect share prices. Stakeholders are advised to consult with financial or professional advisors to assess the implications of this announcement.
Future Announcements:
The company has committed to providing further updates regarding the Rights Cum Warrants Issue as necessary, ensuring shareholders remain informed of any developments that may arise.
By order of the Board,
Advanced Systems Automation Limited
Seah Chong Hoe
Executive Director & CEO
13 November 2024
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own research and consult with professional advisors before making any investment decisions.
