General Announcement

23/06/1999

YTL CORPORATION BERHAD ("YTL" or "the Company") - EXTRAORDINARY GENERAL MEETING HELD ON 23 JUNE 1999 WITH REGARDS TO THE: (i) Proposed Issue of RM500 million nominal value of 8.50% five year redeemable non-guaranteed unsecured bonds with the rights to the provisional allotment of up to 394,204,938 new warrants ("Proposed Issue of Bonds with New Warrants") (ii) Proposed Offer for Sale of the rights to provisional allotment of up to 394,204,938 new warrants to the entitled shareholders of YTL Corporation Berhad on the basis of one (1) new warrant for every four (4) existing ordinary share held at an offer price of RM0.50 per new warrant ("Proposed Offer for Sale") - ADJUSTMENTS TO THE EXERCISE PRICE OF THE OUTSTANDING WARRANTS 1997/2002 AND THE CONVERSION PRICE OF THE OUTSTANDING US$17.995 MILLION NOMINAL VALUE ZERO COUPON CONVERTIBLE BONDS DUE 2002

YTL CORPORATION BERHAD

TypeAnnouncement
SubjectYTL CORPORATION BERHAD ("YTL" or "the Company")
- EXTRAORDINARY GENERAL MEETING HELD ON 23 JUNE 1999 WITH REGARDS
TO THE:

(i) Proposed Issue of RM500 million nominal value of 8.50% five year redeemable
non-guaranteed unsecured bonds with the rights to the provisional allotment
of up to 394,204,938 new warrants ("Proposed Issue of Bonds with New
Warrants")

(ii) Proposed Offer for Sale of the rights to provisional allotment of up to
394,204,938 new warrants to the entitled shareholders of YTL Corporation
Berhad on the basis of one (1) new warrant for every four (4) existing ordinary
share held at an offer price of RM0.50 per new warrant ("Proposed Offer for
Sale")

- ADJUSTMENTS TO THE EXERCISE PRICE OF THE OUTSTANDING WARRANTS
1997/2002 AND THE CONVERSION PRICE OF THE OUTSTANDING US$17.995
MILLION NOMINAL VALUE ZERO COUPON CONVERTIBLE BONDS DUE 2002

Contents :



"Quote

Extraordinary General Meeting held on 23 June 1999


Further to the announcement dated 22 June 1999, we, Aseambankers Malaysia Berhad, on behalf of YTL, are pleased to announce that the shareholders of YTL have unanimously approved the Proposed Issue of Bonds with New Warrants and Proposed Offer for Sale at the Extraordinary General Meeting ("EGM") held on 23 June 1999. Accordingly, all resolutions tabled during the said EGM have been duly carried.







Adjustments to the exercise price of the outstanding warrants 1997/2002 and the conversion price of the outstanding US$17.995 million nominal value zero coupon convertible bonds due 2002

Consequent to the Proposed Offer for Sale and in accordance with the Deed Poll dated 20 September 1997 which constituted the existing outstanding warrants 1997/2002 ("Outstanding Warrants") and the Trust Deed dated 15 August 1995 which constituted the outstanding US$17,995,000 nominal value seven (7) year zero coupon convertible bonds due 2002 ("Convertible Bonds"), there will be adjustments to the exercise price of the Outstanding Warrants and the conversion price of the Convertible Bonds. The holders of the Outstanding Warrants and the Convertible Bonds will be notified accordingly of the said adjustments.

Unquote"

Yours faithfully,
for and on behalf of,
ASEAMBANKERS MALAYSIA BERHAD,



NG CHEE KIET
Manager
Corporate Finance
YONG LEE MEI
Head
Corporate Finance


23 JUNE 1999
KUALA LUMPUR

cc: SECURITIES COMMISSION
Attn: Mr Siow Kim Lun

YTL CORPORATION BERHAD
Attn: Board of Directors

Announcement Info

Company NameYTL CORPORATION BERHAD  
Stock Name YTL
Date Announced23 Jun 1999  
CategoryGeneral Announcement
Reference NoMM-990623-43822

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