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(i) Proposed Private Placement;
(ii) Proposed Share Split;
(iii) Proposed Free Warrants Issue; And
(iv) Proposed Amendments

(Collectively Referred To As The "Proposals")

Back03 Nov 2010
Date Announced
:
 03/11/2010  




Type
:
 Announcement
Subject
:
QL RESOURCES BERHAD ("QL" OR THE "COMPANY")

(I) PROPOSED PRIVATE PLACEMENT;
(II) PROPOSED SHARE SPLIT;
(III) PROPOSED FREE WARRANTS ISSUE; AND
(IV) PROPOSED AMENDMENTS

(COLLECTIVELY REFERRED TO AS THE "PROPOSALS")

Contents
:
(I) PROPOSED PRIVATE PLACEMENT OF UP TO 20,827,920 SHARES ("PLACEMENT SHARE(S)") IN QL ("PROPOSED PRIVATE PLACEMENT");

(II) PROPOSED 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 AN ENTITLEMENT DATE TO BE DETERMINED AND ANNOUNCED LATER ("ENTITLEMENT DATE") ("PROPOSED SHARE SPLIT");

(III) PROPOSED ISSUE OF UP TO 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 TO BE DETERMINED AND ANNOUNCED LATER AFTER AFTER THE PROPOSED PRIVATE PLACEMENT AND PROPOSED SHARE SPLIT ("PROPOSED FREE WARRANTS ISSUE"); AND

(IV) PROPOSED INCREASE IN THE AUTHORIZED SHARE CAPITAL AND CONSEQUENTIAL AMENDMENTS TO THE COMPANY'S MEMORANDUM AND ARTICLES OF ASSOCIATION ("M&A") ("PROPOSED AMENDMENTS").

(COLLECTIVELY REFERRED TO AS THE "PROPOSALS")

Announcement Details :

On behalf of the Board of Directors of QL, OSK Investment Bank Berhad ("OSK") wishes to announce that the Company proposes to undertake the following corporate proposals:-

(i) Proposed Private Placement;
(ii) Proposed Share Split;
(iii) Proposed Free Warrants Issue; and
(iv) Proposed Amendments.

Further details on the Proposals are set out in the attachment.

This announcement is dated 3 November 2010.

Attachments

  1. QL031110.pdf (Size: 96,638 bytes)