General Announcement

13/05/2003

Southern Steel Berhad (SSB or the Company) Renounceable rights issue of up to RM141,176,500 nominal amount of irredeemable convertible unsecured loan stocks (ICULS) at an issue price of 100% of the nominal amount on the basis of RM1.00 nominal amount of ICULS for every 2 existing ordinary shares of RM1.00 each (SSB Shares) held in SSB (Rights Issue of ICULS)

SOUTHERN STEEL BERHAD

Type

Announcement
SubjectSouthern Steel Berhad (SSB or the Company)
Renounceable rights issue of up to RM141,176,500 nominal amount of irredeemable convertible unsecured loan stocks (ICULS) at an issue price of 100% of the nominal amount on the basis of RM1.00 nominal amount of ICULS for every 2 existing ordinary shares of RM1.00 each (SSB Shares) held in SSB (Rights Issue of ICULS)

Contents :

Quote


The Board of Directors of SSB announces that the approval-in-principle of the Kuala Lumpur Stock Exchange (KLSE) has been obtained for the following:

i) the admission to the Official List of the KLSE and the listing of and quotation for up to RM141,176,500 nominal amount of ICULS on the KLSE; and

ii) the listing of and quotation for up to 137,064,563 new SSB Shares to be issued pursuant to the conversion of ICULS on the Main Board of the KLSE.

In addition, the Board of Directors of SSB announces that the approval-in-principle of the Securities Commission has been obtained for the registration of the Abridged Prospectus to be issued in connection with the Rights Issue of ICULS.

Shareholders and potential investors are requested to refer to the Circular to Shareholders issued by SSB on 14 January 2003 and the announcement dated 10 February 2003 for further details of the Rights Issue of ICULS.

This announcement is dated 13 May 2003.

Unquote


Announcement Info

Company NameSOUTHERN STEEL BERHAD  
Stock Name SSTEEL
Date Announced13 May 2003  
CategoryGeneral Announcement
Reference NoMM-030513-63719

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