MULTIPLE PROPOSALS I-POWER BERHAD ("I-POWER" OR THE "COMPANY") I. PROPOSED CAPITAL REDUCTION; II. PROPOSED CRR REDUCTION; III. PROPOSED SHARE PREMIUM REDUCTION; IV. PROPOSED SHARE CONSOLIDATION; V. PROPOSED ACQUISITION; VI. PROPOSED EXEMPTION; VII. PROPOSED OFFER FOR SALE; VIII. PROPOSED PRIVATE PLACEMENT; IX. PROPOSED INCREASE IN AUTHORISED SHARE CAPITAL; X. PROPOSED CHANGE OF NAME; AND XI. PROPOSED AMENDMENTS (COLLECTIVELY REFERRED TO AS THE "PROPOSALS")
| I-POWER BERHAD |
| Type | Announcement |
| Subject | MULTIPLE PROPOSALS |
| Description | I-POWER BERHAD ("I-POWER" OR THE "COMPANY") I. PROPOSED CAPITAL REDUCTION; II. PROPOSED CRR REDUCTION; III. PROPOSED SHARE PREMIUM REDUCTION; IV. PROPOSED SHARE CONSOLIDATION; V. PROPOSED ACQUISITION; VI. PROPOSED EXEMPTION; VII. PROPOSED OFFER FOR SALE; VIII. PROPOSED PRIVATE PLACEMENT; IX. PROPOSED INCREASE IN AUTHORISED SHARE CAPITAL; X. PROPOSED CHANGE OF NAME; AND XI. PROPOSED AMENDMENTS (COLLECTIVELY REFERRED TO AS THE "PROPOSALS") |
The terms used herein, unless the context otherwise stated, bear the same meaning as those defined in the earlier announcements in relation to the Proposals dated 11 August 2011, 15 August 2011, 22 September 2011 and 6 January 2012. We refer to the announcement made by OSK Investment Bank Berhad ("OSK"), on behalf of the Board of Directors of I-Power ("Board") on 11 August 2011, 15 August 2011, 22 September 2011 and 6 January 2012 in relation to the Proposals. On behalf of the Board, OSK wishes to announce that the Company had, on 30 March 2012, entered into a second supplemental agreement with the Vendors amending the SSA and the First Supplemental Agreement ("Second Supplemental Agreement") to undertake a proposed bonus issue in conjunction with the Proposed Acquisition to the existing shareholders of I-Power other than to the Vendors on the basis of three (3) new Consolidated Shares ("Bonus Share(s)") for every two (2) existing Consolidated Shares held on an entitlement date to be determined by the Board later and which shall be a date after the completion of the Proposed Acquisition but prior to the Proposed Offer for Sale and the Proposed Private Placement ("Entitlement Date") ("Proposed Bonus Issue"). In addition to the Proposed Bonus Issue to be undertaken, the Vendors have also agreed to grant an additional profit guarantee for financial year ending 31 December 2013. Further details on the Proposed Bonus Issue are set out in the attachment below. This announcement is dated 30 March 2012. | |
Announcement Info
| Company Name | I-POWER BERHAD (ACE Market) |
| Stock Name | IPOWER |
| Date Announced | 30 Mar 2012 |
| Category | General Announcement |
| Reference No | OI-120330-67268 |