Advanced Systems Automation: Strategic Move with Rights Cum Warrants Issue

Advanced Systems Automation Limited has announced a significant financial maneuver through a proposed renounceable non-underwritten Rights Cum Warrants Issue. This initiative, which was approved by the shareholders during the extraordinary general meeting on 8 November 2024, presents a notable opportunity and potential price sensitivity for investors.

Key Highlights

• The Rights Cum Warrants Issue is structured on the basis of 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 determining provisional allotments is set for 26 November 2024, with share trading on a “cum-rights” basis up to 22 November 2024 and “ex-rights” from 25 November 2024.
• Eligible participants are categorized into Entitled Depositors and Entitled Scripholders, both of which need to meet specific criteria to participate in the issue.
• Foreign shareholders are excluded from this offer to avoid legal complications, with their entitlements being redistributed or otherwise managed by the company’s discretion.

Important Information for Shareholders

Shareholders need to be aware that the Rights Cum Warrants Issue is only available to those with registered Singapore addresses as of the record date. The offer will not be extended to foreign investors, potentially impacting the distribution of shares. Additionally, the opportunity to apply for excess rights shares is available, which could influence the decision-making of current shareholders.

Potential Impact on Share Values

This strategic financial move is critical for investors to consider, as it could significantly impact share values. The opportunity to subscribe to additional shares and warrants may lead to changes in ownership dynamics and market perception, potentially affecting the overall valuation of Advanced Systems Automation Limited.

Cautionary Note

The company advises shareholders and potential investors to exercise caution when dealing with the company’s shares, as there is no certainty that the Rights Cum Warrants Issue will materialize as planned. Investors should remain informed through subsequent announcements and consider consulting financial advisors if in doubt.

This announcement has been reviewed by ZICO Capital Pte. Ltd., the company’s sponsor, but not examined or approved by the SGX-ST, which assumes no responsibility for its contents.