Advanced Systems Automation to Issue Rights and Warrants: What Shareholders Need to Know

In a significant development, Advanced Systems Automation Limited has announced a proposed renounceable non-underwritten rights issue accompanied by warrants. This comes on the heels of approval at the company’s extraordinary general meeting held on 8 November 2024. The rights issue is structured to offer three rights shares for every two existing shares held by entitled shareholders, along with two warrants for every three rights shares subscribed.

Key Announcements and Details

The company has received a listing and quotation notice from the Singapore Exchange Securities Trading Limited (SGX-ST), dated 12 November 2024. This allows for the listing and trading of up to 1,093,521,189 rights shares, 729,014,126 warrants, and 729,014,126 warrant shares on the Catalist board of the SGX-ST. However, this is contingent upon the company’s compliance with SGX-ST listing requirements and confirmation of a sufficient spread in the warrants as per Rule 826 of the Catalist Rules.

Shareholder Considerations

Shareholders should note that while the listing and quotation notice is a positive step, it does not indicate the merits of the issue or the company. There is no certainty that the rights cum warrants issue will materialize, and shareholders are advised to exercise caution when dealing with the company’s shares. The offer information statement concerning this issue will be dispatched to entitled shareholders soon, with further announcements to follow.

Potential Impact on Share Value

The proposed issue could potentially impact the share value of Advanced Systems Automation Limited. Shareholders and investors should stay informed and consider consulting financial, tax, or professional advisors to make well-informed decisions. The company plans to make further announcements as necessary.

The announcement was prepared by the company and reviewed by its sponsor, ZICO Capital Pte. Ltd., but it has not been approved by the SGX-ST. The SGX-ST assumes no responsibility for the announcement’s content.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. Readers are encouraged to conduct their own research and consult with financial professionals before making any investment decisions.

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