RightIssue

[HANDAL] Rights Issue on 08-Mar-2011

Announcement Date: 24-Feb-2011
Related Stock:
HANDAL
HANDAL ENERGY BERHAD
Share Registrar:
HANDAL
HANDAL ENERGY BERHAD
Amount

2 : 3

  • Ex Date
    08-Mar-2011
  • Entitlement Date
    10-Mar-2011
Description
(i) Renounceable rights issue of 60,000,000 new ordinary shares of RM0.50 each in Handal Resources Berhad (“Handal” or the “Company”) (“Rights Share(s)”) at an issue price of RM0.52 per Rights Share together with 60,000,000 new free detachable warrants (“Warrant(s)”) on the basis of two (2) Rights Shares and two (2) free Warrants for every three (3) existing ordinary shares of RM0.50 each in Handal (“Handal Share(s)”) as at 5.00 p.m. on 10 March 2011 payable in full upon acceptance (“Rights Issue”); and (ii) Bonus issue of 10,000,000 Handal Shares (“Bonus Share(s)”) on the basis of one (1) Bonus Share for every six (6) Rights Shares subscribed by the existing shareholders of Handal and/or their renouncees pursuant to the Rights Issue (“Bonus Issue”); (collectively known as the “Corporate Exercises”)

About HANDAL ENERGY BERHAD
Handal Energy Berhad, formerly Handal Resources Berhad, is a Malaysia-based oil and gas company specializing in the manufacturing, maintenance and servicing of offshore cranes. The Company provides offshore crane fabrication, overhaul and maintenance and offshore crane rental; engineering project support services; engineering procurement and construction (EPC) work, and provision of technologies and solutions for the oil and gas sector. The Company's overhaul and maintenance services include crane reconditioning, operation and management, crane inspection and maintenance, consultation services and vendor/customer support data.

How to be entitled
To be entitled for any of the above, you need to purchase the shares one trading day before the ex-Date. You will not be entitled for the above if you purchase the shares on or after the ex-Date.

On ex-Date, the price will be adjusted to reflect the theoretical market price of the stock after the entitlement. You can sell the shares on / after ex-Date and still be entitled to the corporate exercise. The key is to purchase the shares before ex-Date.
How to subscribe
Shareholders that fulfill the requirement above will need to fill in and submit the right subscription form to the share registrar:

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