Advanced Systems Automation: Significant Share Expansion Through Rights Issue

Advanced Systems Automation Limited has announced a substantial increase in its issued share capital through a renounceable non-underwritten rights cum warrants issue. This move is set to significantly alter the company’s financial landscape and trading dynamics on the Singapore Exchange.

Key Highlights:

• The company has successfully allotted and issued 981,062,263 Rights Shares, boosting its total issued shares from 654,041,509 to 1,635,103,772.
• The Rights Shares are scheduled to be listed and quoted on the Catalist of the SGX-ST from 23 December 2024, with trading commencing at 9:00 a.m.
• In conjunction with the rights issue, 654,041,115 Warrants have been allotted and issued, expected to begin trading on 24 December 2024.

Shareholders’ Information:

The Rights Shares and Warrant Shares will rank pari passu with existing shares, entitling holders to dividends and other rights. The SGX-ST has granted a listing and quotation notice, though this is not an endorsement of the merits of the issue or the company’s prospects.

Potential Impact on Share Price:

The significant increase in share capital and the introduction of warrants could influence the market dynamics of Advanced Systems Automation’s stock. Shareholders should be aware of the potential for increased liquidity and trading activity, particularly with the provision for trading odd lots on the SGX-ST’s Unit Share Market.

Trading in Odd Lots:

Shareholders holding odd lots of shares will have the opportunity to trade these on the SGX-ST’s Unit Share Market, although the market for odd lots may be less liquid. Each board lot will consist of 100 shares.

Disclaimer: This article is based on the announcements made by Advanced Systems Automation Limited and does not constitute financial advice. Investors are advised to perform their due diligence and consider the potential risks involved.