MULTIPLE PROPOSALS FUTUTECH BERHAD (“FUTUTECH” OR “THE COMPANY”) (I) PROPOSED CAPITAL REDUCTION; AND (II) PROPOSED RIGHTS ISSUE. (COLLECTIVELY REFERRED TO AS THE “PROPOSALS”)
| FUTUTECH BERHAD |
| Type | Announcement |
| Subject | MULTIPLE PROPOSALS |
| Description | FUTUTECH BERHAD (“FUTUTECH” OR “THE COMPANY”) (I) PROPOSED CAPITAL REDUCTION; AND (II) PROPOSED RIGHTS ISSUE. (COLLECTIVELY REFERRED TO AS THE “PROPOSALS”) |
On behalf of the Board of Directors of Fututech, OSK Investment Bank Berhad and Astramina Advisory Sdn Bhd wishes to announce that the Company proposes to undertake the following: (a) proposed share capital reduction by cancellation of RM0.50 of the par value of every existing ordinary share of RM1.00 each in Fututech to be set-off against the accumulated losses of Fututech; and (b) proposed renounceable rights issue of up to 82,216,898 new ordinary shares of RM0.50 each in Fututech (“Rights Shares”) on the basis of one (1) Rights Share for every one (1) ordinary share of RM0.50 each in Fututech from the resultant Proposed Capital Reduction held on the entitlement date to be determined later. Further details on the Proposals are set out in the attachment enclosed. This announcement is dated 4 May 2011. | |
Announcement Info
| Company Name | FUTUTECH BERHAD |
| Stock Name | FUTUTEC |
| Date Announced | 4 May 2011 |
| Category | General Announcement |
| Reference No | OI-110504-55427 |