General Announcement

12/11/1999

(I) PROPOSED BONUS ISSUE OF UP TO 137,670,000 NEW ORDINARY SHARES ON THE BASIS OF ONE (1) NEW ORDINARY SHARE FOR EVERY THREE (3) EXISTING SHARES HELD IN OSK PRIOR TO THE PROPOSED RIGHTS ISSUES OF ICULS AND RUB WITH WARRANT B ("PROPOSED BONUS ISSUE") ; AND (II) PROPOSED RIGHTS ISSUE OF: (a) UP TO RM137,670,000 NOMINAL AMOUNT OF 6% IRREDEEMABLE CONVERTIBLE UNSECURED LOAN STOCK 2000/2005 ("ICULS") AT 100% NOMINAL AMOUNT OF ICULS; AND (b) UP TO RM137,670,000 NOMINAL AMOUNT OF 3.5% REDEEMABLE UNSECURED BONDS 2000/2005 ("RUB") AT 100% NOMINAL AMOUNT OF RUB. WITH UP TO 137,670,000 FREE DETACHABLE WARRANTS B ON THE BASIS OF RM1.00 NOMINAL AMOUNT OF ICULS AND RM1.00 NOMINAL AMOUNT OF RUB WITH ONE (1) FREE DETACHABLE WARRANT B FOR EVERY THREE (3) EXISTING ORDINARY SHARES HELD IN OSK PRIOR TO THE PROPOSED BONUS ISSUE ("PROPOSED ICULS AND RUB WITH WARRANT B") (COLLECTIVELY, THE "PROPOSALS")

O.S.K. HOLDINGS BERHAD

TypeAnnouncement
Subject(I) PROPOSED BONUS ISSUE OF UP TO 137,670,000 NEW ORDINARY SHARES ON THE BASIS OF ONE (1) NEW ORDINARY SHARE FOR EVERY THREE (3) EXISTING SHARES HELD IN OSK PRIOR TO THE PROPOSED RIGHTS ISSUES OF ICULS AND RUB WITH WARRANT B ("PROPOSED BONUS ISSUE") ; AND

(II) PROPOSED RIGHTS ISSUE OF:

(a) UP TO RM137,670,000 NOMINAL AMOUNT OF 6% IRREDEEMABLE CONVERTIBLE UNSECURED LOAN STOCK 2000/2005 ("ICULS") AT 100% NOMINAL AMOUNT OF ICULS; AND

(b) UP TO RM137,670,000 NOMINAL AMOUNT OF 3.5% REDEEMABLE UNSECURED BONDS 2000/2005 ("RUB") AT 100% NOMINAL AMOUNT OF RUB.

WITH UP TO 137,670,000 FREE DETACHABLE WARRANTS B ON THE BASIS OF RM1.00 NOMINAL AMOUNT OF ICULS AND RM1.00 NOMINAL AMOUNT OF RUB WITH ONE (1) FREE DETACHABLE WARRANT B FOR EVERY THREE (3) EXISTING ORDINARY SHARES HELD IN OSK PRIOR TO THE PROPOSED BONUS ISSUE ("PROPOSED ICULS AND RUB WITH WARRANT B")

(COLLECTIVELY, THE "PROPOSALS")

Contents :

We refer to our announcement dated 21 October 1999 on the approval from the Securities Commission for the Proposals.


On behalf of the Board of Directors of OSK (Board), Arab-Malaysian Merchant Bank Berhad is pleased to announce that the exercise price of the Warrants B and conversion price of the ICULS have been fixed at RM2.80 respectively.

Both the aforesaid exercise and conversion prices were determined based on a premium over RM2.78, being the weighted average market price of the OSK shares as quoted on the Kuala Lumpur Stock Exchange for the past five (5) consecutive market days prior to 12 November 1999, the price fixing date for the Proposed Rights Issues of ICULS and RUB with Warrant B as approved by the Board, after adjustment for the Proposed Bonus Issue.

This announcement is dated 12 November 1999.


Announcement Info

Company NameO.S.K. HOLDINGS BERHAD  
Stock Name OSK
Date Announced12 Nov 1999  
CategoryGeneral Announcement
Reference NoMM-991112-63575

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