Advanced Systems Automation Limited Announces Rights Cum Warrants Issue – Potential Impact on Share Prices

Advanced Systems Automation Limited (ASAL) has announced that it has received the listing and quotation notice from the Singapore Exchange Securities Trading Limited (SGX-ST) for its proposed renounceable non-underwritten rights cum warrants issue. This development follows the approval by the shareholders at the extraordinary general meeting held on 8 November 2024.

Key Points from the Announcement

• The rights cum warrants issue will be on the basis of three rights shares for every two existing shares held by entitled shareholders as of a record date to be determined.
• Additionally, two warrants will be issued for every three rights shares subscribed, with fractional entitlements to be disregarded.
• The listing and quotation notice from SGX-ST covers up to 1,093,521,189 rights shares, 729,014,126 warrants, and 729,014,126 warrant shares.
• This listing is contingent upon ASAL’s compliance with SGX-ST’s listing requirements and confirmation of sufficient spread in the warrants as required under Rule 826 of the Catalist Rules.

Important Information for Shareholders

Shareholders and potential investors should note that there is no certainty or assurance that the rights cum warrants issue will materialise. The Offer Information Statement related to the rights cum warrants issue will be dispatched to entitled shareholders in due course.

Given the potential impact on share values, shareholders and investors are advised to exercise caution when dealing or trading in the company’s shares. Further announcements will be made by the company as necessary.

Potential Impact on Share Prices

The approval and receipt of the listing and quotation notice for the rights cum warrants issue could be significant for ASAL’s share prices. Investors should keep an eye on further announcements and consult their financial advisors to make informed decisions.

BY ORDER OF THE BOARD
ADVANCED SYSTEMS AUTOMATION LIMITED
SEAH CHONG HOE
EXECUTIVE DIRECTOR & CEO
13 November 2024

This announcement has been prepared by ASAL and reviewed by the company’s sponsor, ZICO Capital Pte. Ltd., in accordance with Rule 226(2)(b) of the SGX-ST Listing Manual Section B: Rules of Catalist. The SGX-ST has not approved the contents and assumes no responsibility for the accuracy of any statements or reports contained within this announcement.

For further inquiries, contact Ms. Goh Mei Xian, Director at ZICO Capital Pte. Ltd., at 77 Robinson Road, #06-03 Robinson 77, Singapore 068896, telephone (65) 6636 4201.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investors should perform their own due diligence or consult a professional advisor before making any investment decisions.

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