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Flash Note – Gabungan AQRS (ADD, maintain) - Proposed bonus issue of free warrants




Affin Hwang Investment Bank Bhd


23 Apr 2013





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Proposing 160m free warrants Gabungan AQRS (GQAQRS) announced that the company is proposing: 1) a bonus issue of 160m free warrants (i.e. at no cost) on the basis of 9 warrants for every 20 GAQRS shares held; 2) increase in the authorised share capital of GAQRS to RM500m comprising 2,000m shares (from RM100m comprising 400m shares), in order to accommodate any future issuance of new GAQRS shares; and 3) to amend its Memorandum and Articles of Association to effect the proposed Increase in authorised share capital. The entitlement date and the exercise price of the warrants will be determined and fixed later by the Board after obtaining all relevant approvals. However, an indicative exercise price based on a 5-day VWAP of RM0.92 is assumed for illustrative purposes.

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