With reference to the warrant exercise, we wish to inform you that the persons attached have exercised their warrants.
As regards to the remaining 30,267,158 warrants, at a meeting held on November 39, 2004, the Board of Directors decided to allocate them to Lemeco Industries Ltd, which will exercise them against 5.1 cents per share. Pursuant to the issue terms of warrants, 0.01 cents per share will be distributed to the warrant holders. Their distribution will depend on the number of warrants that each warrant holder possessed.
With the completion of the procedure, all 33,744,036 warrants will be exercised and the Company will receive 5 cents per warrant. As a result, the share capital of the Company will increase from 185,520,172 to 219,264,208 shares of nominal value 5 cents each.
As regards to the remaining 30,267,158 warrants, at a meeting held on November 39, 2004, the Board of Directors decided to allocate them to Lemeco Industries Ltd, which will exercise them against 5.1 cents per share. Pursuant to the issue terms of warrants, 0.01 cents per share will be distributed to the warrant holders. Their distribution will depend on the number of warrants that each warrant holder possessed.
With the completion of the procedure, all 33,744,036 warrants will be exercised and the Company will receive 5 cents per warrant. As a result, the share capital of the Company will increase from 185,520,172 to 219,264,208 shares of nominal value 5 cents each.
Wednesday, 1 December, 2004 - 09:54