News

Multiple Proposals

Back18 Feb 2011

Date Announced

18/02/2011

Type

Announcement

Subject

MULTIPLE PROPOSALS

Description

QL RESOURCES BERHAD ("QL" OR THE "COMPANY")

(I) PRIVATE PLACEMENT OF 20,827,920 SHARES ("PLACEMENT SHARE(S)") IN QL ("PRIVATE PLACEMENT");

(II) SHARE SPLIT INVOLVING THE SUBDIVISION OF EVERY ONE (1) EXISTING ORDINARY SHARE OF RM0.50 EACH HELD IN QL ("EXISTING SHARE(S)") INTO TWO (2) ORDINARY SHARES OF RM0.25 EACH IN QL ("QL SHARE(S)" OR "SHARE(S)") HELD ON THE ENTITLEMENT DATE ("SHARE SPLIT");

(III) ISSUE OF 41,600,000 FREE WARRANTS IN QL ("WARRANT(S)") ON THE BASIS OF ONE (1) FREE WARRANT FOR EVERY TWENTY (20) EXISTING QL SHARES HELD ON AN ENTITLEMENT DATE AFTER THE PRIVATE PLACEMENT AND SHARE SPLIT ("FREE WARRANTS ISSUE"); AND

(V) INCREASE IN THE AUTHORISED SHARE CAPITAL AND CONSEQUENTIAL AMENDMENTS TO THE COMPANY'S MEMORANDUM AND ARTICLES OF ASSOCIATION ("M&A") ("AMENDMENTS")

(COLLECTIVELY REFERRED TO AS THE "CORPORATE EXERCISES")

Announcement Details/Table Section :

We refer to the earlier announcements in relation to the Corporate Exercises.

On behalf of the Board of Directors of QL, OSK Investment Bank Berhad is pleased to announce that 41,600,000 Warrants issued pursuant to the Free Warrants Issue were listed and quoted on the Main Market of Bursa Malaysia Securities Berhad with effect from 9.00 a.m., Friday, 18 February 2011, marking the completion of the Corporate Exercises.

This announcement is dated 18 February 2011.