Advanced Systems Automation Announces Rights Cum Warrants Issue: Potential Impacts on Shareholders

Advanced Systems Automation Limited has made a significant announcement regarding a proposed renounceable non-underwritten rights cum warrants issue. This involves offering three rights shares for every two existing shares held by entitled shareholders, along with two warrants for every three rights shares subscribed. The record date for this issue is set for 26 November 2024, at 5:00 p.m. Singapore time.

Key Details of the Rights Cum Warrants Issue

Shareholders should be aware that the shares will trade on a “cum-rights” basis up until 22 November 2024 and will switch to an “ex-rights” basis from 25 November 2024. This change means that any purchase of shares from 25 November onwards will not include entitlements to the rights shares and warrants.

Eligibility Criteria for Participation

The rights cum warrants issue is available to “Entitled Shareholders,” which includes both Entitled Depositors and Entitled Scripholders with registered addresses in Singapore or those who have provided a Singapore address by the specified deadline. Foreign shareholders with registered addresses outside Singapore will not be eligible to participate, and their provisional allotments will be aggregated to satisfy applications for excess rights shares.

Implications for Shareholders

Entitled Shareholders will receive a notification letter detailing how to access the Offer Information Statement, which will be crucial for understanding the terms and options available, including the possibility of applying for excess rights shares. Shareholders are advised to exercise caution when trading shares as there is no certainty that the rights cum warrants issue will materialize, potentially impacting share values.

Cautionary Statement

Shareholders and potential investors should be vigilant and consult with financial advisors if uncertain about actions regarding this issue. The announcement was prepared by the company and reviewed by ZICO Capital Pte. Ltd. It has not been approved by the Singapore Exchange Securities Trading Limited, which assumes no responsibility for its contents.

Conclusion

The proposed rights cum warrants issue by Advanced Systems Automation Limited could have significant implications for shareholders, particularly in terms of trading conditions and eligibility for participation. Shareholders should closely monitor further announcements for any developments that may affect their investments.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. Readers are encouraged to consult with a qualified financial advisor for advice tailored to their personal circumstances.

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