OTHERS XIDELANG HOLDINGS LIMITED ("XDL" OR THE "COMPANY") - CLARIFICATIONS IN RELATION TO AN ARTICLE IN THE EDGE MALAYSIA DATED 20 JULY 2015
|XIDELANG HOLDINGS LTD|
XIDELANG HOLDINGS LIMITED ("XDL" OR THE "COMPANY") - CLARIFICATIONS IN RELATION TO AN ARTICLE IN THE EDGE MALAYSIA DATED 20 JULY 2015
Reference is made to an article published in The Edge Malaysia dated 20 July 2015 stating that no adjustment was made to the exercise price of XDL’s outstanding warrants 2014/2017, which have been issued by the Company on 24 January 2014 and are expiring on 22 January 2017 (“XDL-WB”) following the completion of the Company’s recent bonus issue of warrants on the basis of one (1) warrant for every three (3) existing ordinary shares held (“XDL-WC”) (“Bonus Issue of XDL-WC”).
The Company wishes to clarify that any adjustments to be made to the number as well as exercise price of XDL-WB shall be based on the provisions specified in the deed poll of XDL-WB dated 9 December 2013 (“Deed Poll”).
Pursuant to Condition 5.1.8, Third Schedule of the Deed Poll (relating to issuance by the Company of any securities convertible into or with rights to acquire or subscribe of shares, which in this case is XDL-WC), the exercise price of XDL-WB will be adjusted if the exercise price of XDL-WC is less than 90% of the five (5)-day weighted average market price (“5D-WAMP”) of XDL shares when the exercise price of XDL-WC is determined.
Accordingly, the Company wishes to advise that no adjustments are required to be made to the existing XDL-WB’s exercise price based on the price fixing of XDL-WC exercise price of RM0.115 that was determined at the initial announcement of the Bonus Issue of XDL-WC on 15 May 2015, pursuant to the provision of the Deed Poll. The 5D-WAMP of XDL shares up to and including 14 May 2015, being the date immediately prior to the announcement of the Bonus Issue of XDL-WC is RM0.1048.
This announcement is dated 20 July 2015.
|Company Name||XIDELANG HOLDINGS LTD|
|Date Announced||20 Jul 2015|
|Category||General Announcement for PLC|