On behalf of the Board of Directors of the Company, AmInvestment Bank Berhad, wishes to announce that the Company is proposing to undertake the following:-
(i) a private placement of up to 43,999,990 new ordinary shares of United States Dollar (“US$”) 0.10 each in the Company (“Shares” or “XDL Shares”) (“Placement Shares”), representing up to 10% of the total issued and paid-up share capital of XDL (inclusive of treasury Shares) (“Proposed Private Placement”);
(ii) a bonus issue of up to 241,999,945 new Shares (“Bonus Shares”) (after the Proposed Private Placement), to be credited as fully paid-up at par, on the basis of one (1) Bonus Share for every two (2) existing Shares held by the entitled shareholders of the Company on an entitlement date to be determined by the Board and announced later (“Entitlement Date”) (“Proposed Bonus Issue”);
(iii) a renounceable rights issue of up to 241,999,945 warrants in XDL (“Warrant(s)”) (after the Proposed Private Placement), at an issue price of RM0.05 per Warrant on the basis of one (1) Warrant for every two (2) existing Shares held by the entitled shareholders of the Company on the same Entitlement Date as the Proposed Bonus Issue (“Proposed Rights Issue of Warrants”); and
(iv) increase in the authorised share capital of XDL from US$50,000,000 comprising 500,000,000 Shares to US$300,000,000 comprising 3,000,000,000 Shares (“Proposed Increase in Authorised Share Capital”).
The Proposed Private Placement, Proposed Bonus Issue, Proposed Rights Issue of Warrants and Proposed Increase in Authorised Share Capital will collectively be referred to as the “Proposals”.
Further details of the Proposals are set out in the attachment below.
This announcement is dated 18 January 2012.