News

New Issue Of Securities (Chapter 6 Of Listing Requirements): Other Issue Of Securities

Back08 Feb 2011
Date Announced
:
 08/02/2011  



Type
:
 Announcement
Subject
:
NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS)
OTHER ISSUE OF SECURITIES

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

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")

Announcement Details/Table Section :

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

On behalf of the Board, OSK wishes to announce that the Board has resolved to fix the exercise price of the Warrants at RM3.30 each. The exercise price per Warrant of RM3.30 represents a premium of 4.4% over the closing price of QL Shares of RM3.16 after Share Split on 8 February 2011.

The exercise price of the Warrants was arrived at after taking into consideration the historical price movement of QL shares and the future working capital requirement of QL and its subsidiaries.

This announcement is dated 8 February 2011.