| Subject | ADDITIONAL DISCLOSURE IN RELATION TO THE CIRCULAR TO SHAREHOLDERS OF MANAGEPAY SYSTEMS BERHAD ( MANAGEPAY OR THE COMPANY ) DATED 4 MAY 2012 IN RELATION TO
(I) PROPOSED RENOUNCEABLE RIGHTS ISSUE OF 183,031,190 NEW ORDINARY SHARES OF RM0.10 EACH IN MANAGEPAY ( RIGHTS SHARE(S) ) TOGETHER WITH 183,031,190 FREE NEW DETACHABLE WARRANTS ( WARRANT(S) ) AT AN ISSUE PRICE OF RM0.12 PER RIGHTS SHARE ON THE BASIS OF ONE (1) RIGHTS SHARE TOGETHER WITH ONE (1) FREE WARRANT FOR EVERY ONE (1) EXISTING ORDINARY SHARE OF RM0.10 EACH HELD IN MANAGEPAY ( MANAGEPAY SHARES(S) OR SHARE(S) ) AT AN ENTITLEMENT DATE TO BE DETERMINED AND ANNOUNCED LATER;
(II) PROPOSED INCREASE IN THE AUTHORISED SHARE CAPITAL OF MANAGEPAY FROM RM25,000,000 COMPRISING 250,000,000 MANAGEPAY SHARES TO RM250,000,000 COMPRISING 2,500,000,000 MANAGEPAY SHARES ( PROPOSED INCREASE IN THE AUTHORISED SHARE CAPITAL ); AND
(III) PROPOSED AMENDMENT TO THE COMPANYS MEMORANDUM OF ASSOCIATION AS A CONSEQUENCE OF THE PROPOSED INCREASE IN THE AUTHORISED SHARE CAPITAL.
(COLLECTIVELY REFERRED TO AS THE PROPOSALS ) |