Bursa Announcements
Subscription of 70,000,000 common shares in Beaconsfield Gold N.L. ("BCD") at AUD0.28 per share representing approximately 19% of its enlarged issued and paid up share capital for a total cash consideration of approximately AUD19.6 million or approximately RM57 million pursuant to a non-brokered private placement by BCD ("Subscription")
| MALAYSIA SMELTING CORPORATION BERHAD |
|
Type | Reply to query |
| Reply to Bursa Malaysia's Query Letter - Reference ID | AL-080214-42323 |
| Subject | Subscription of 70,000,000 common shares in Beaconsfield Gold N.L. ("BCD") at AUD0.28 per share representing approximately 19% of its enlarged issued and paid up share capital for a total cash consideration of approximately AUD19.6 million or approximately RM57 million pursuant to a non-brokered private placement by BCD ("Subscription") |
Contents :
In response to Bursa Malaysia's query in relation the above announcement made by the Company on 12 February, 2008, we are pleased to furnish the following information:
1. The breakdown of internal funds and bridging finance to finance the Subscription is as follows - 50% internal funds and 50% bridging finance.
The bridging finance is already in place.
2. The Subscription is not subject to shareholders approval as none of the the percentage ratios calculation as stipulated in Chapter 10 of Bursa Malaysia's
Listing Requirements reaches 25%.
3. BCD is already onstream and is an operating mine. Hence there is no further financial commitment required from the Company in maintaining BCD's
onstream operations.
By order of the Board,
Sharifah Faridah Abdul Rasheed
Company Secretary
15 February 2008
Query Letter Contents :
We refer to your Company's announcements dated 12 February 2008, in respect of
the aforesaid matter.
In this connection, kindly furnish Bursa Securities with the additional
information for public release:-
The breakdown of the internal funds and bridging finance to finance the
Subscription.
Whether the Subscription is subject to the approval of shareholders.
Whether there is any additional financial commitment required in putting BCD
on-stream.
Please furnish Bursa Securities with your reply within one (1) market day from
the date hereof.
Yours faithfully
JOHAN ABDULLAH
Deputy Chief Regulatory Officer
HTH/LAL
copy to:- Mr. Chung Tin Fah, Securities Commission (via fax)
Announcement Info
| Company Name | MALAYSIA SMELTING CORPORATION BERHAD |
| Stock Name | MSC |
| Date Announced | 15 Feb 2008 |
| Category | General Announcement |
| Reference No | MS-080215-43491 |
