General Announcement

22/08/2001

PRESS METAL BERHAD ("PMB" or "Company") - Rights issue of up to 85,754,554 new ordinary shares of RM1.00 each in PMB ("PMB Shares") at an issue price of RM1.00 per share payable in full on acceptance, on the basis of one (1) new PMB Share for each existing PMB Share held at a date to be determined ("Rights Issue") - Bonus issue of up to 42,877,278 new ordinary shares of RM1.00 each in PMB ("PMB Shares") to be credited as fully paid-up on the basis of one (1) new PMB Share for every two (2) existing PMB Shares held at a date to be determined ("Bonus Issue")

PRESS METAL BERHAD

TypeAnnouncement
SubjectPRESS METAL BERHAD ("PMB" or "Company")
- Rights issue of up to 85,754,554 new ordinary shares of RM1.00 each in PMB
("PMB Shares") at an issue price of RM1.00 per share payable in full on
acceptance, on the basis of one (1) new PMB Share for each existing PMB Share
held at a date to be determined ("Rights Issue")
- Bonus issue of up to 42,877,278 new ordinary shares of RM1.00 each in PMB
("PMB Shares") to be credited as fully paid-up on the basis of one (1) new PMB
Share for every two (2) existing PMB Shares held at a date to be determined
("Bonus Issue")

Contents :

Further to the Companys announcements dated 29 February 2000, 21 June 2000 and 7 March 2001 pertaining to the above, Alliance Merchant Bank Berhad, for and on behalf of the Board of Directors of PMB, wishes to announce that the Company had, on 20 August 2001, decided to abort the following:


(i) Rights Issue. This is due to the prevailing weak market sentiments on the local bourse and unfavourable share price of the Company; and

(ii) Bonus Issue. As opposed to implementing the Bonus Issue at this moment, PMB has decided to preserve the Company's reserves for capitalisation in the future.

This announcement is dated 22 August 2001.


Announcement Info

Company NamePRESS METAL BERHAD  
Stock Name PMETAL
Date Announced22 Aug 2001  
CategoryGeneral Announcement
Reference NoMM-010822-40865

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