HANDAL RESOURCES BERHAD (“HANDAL” OR THE “COMPANY”) (I) PROPOSED RIGHTS ISSUE; (II) PROPOSED BONUS ISSUE; (III) PROPOSED INCREASE IN AUTHORISED SHARE CAPITAL; AND (IV) PROPOSED AMENDMENTS (COLLECTIVELY REFERRED TO AS THE "PROPOSALS")

HANDAL RESOURCES BERHAD

TypeAnnouncement
SubjectHANDAL RESOURCES BERHAD (“HANDAL” OR THE “COMPANY”)

(I) PROPOSED RIGHTS ISSUE;
(II) PROPOSED BONUS ISSUE;
(III) PROPOSED INCREASE IN AUTHORISED SHARE CAPITAL; AND
(IV) PROPOSED AMENDMENTS

(COLLECTIVELY REFERRED TO AS THE "PROPOSALS")
Contents(I) PROPOSED RENOUNCEABLE RIGHTS ISSUE OF 60,000,000 NEW ORDINARY SHARES OF RM0.50 EACH IN HANDAL (“RIGHTS SHARE(S)”) TOGETHER WITH 60,000,000 NEW FREE DETACHABLE WARRANTS (“WARRANT(S)”) ON THE BASIS OF TWO (2) RIGHTS SHARES AND TWO (2) FREE WARRANTS FOR EVERY THREE (3) EXISTING ORDINARY SHARES OF RM0.50 EACH IN HANDAL (“HANDAL SHARE(S)”) HELD ON AN ENTITLEMENT DATE TO BE DETERMINED LATER (“PROPOSED RIGHTS ISSUE”);

(II) PROPOSED BONUS ISSUE OF 20,000,000 HANDAL SHARES (“BONUS SHARE(S)”) ON THE BASIS OF ONE (1) BONUS SHARE FOR EVERY THREE (3) RIGHTS SHARES SUBSCRIBED (“PROPOSED BONUS ISSUE”);

(III) PROPOSED INCREASE IN THE AUTHORISED SHARE CAPITAL OF THE COMPANY FROM RM50,000,000 COMPRISING 100,000,000 HANDAL SHARES TO RM250,000,000 COMPRISING 500,000,000 HANDAL SHARES (“PROPOSED INCREASE IN AUTHORISED SHARE CAPITAL”); AND

(IV) PROPOSED AMENDMENTS TO THE MEMORANDUM AND ARTICLES OF ASSOCIATION OF THE COMPANY (“PROPOSED AMENDMENTS”)

(COLLECTIVELY REFERRED TO AS THE “PROPOSALS”)


Announcement Info

Company NameHANDAL RESOURCES BERHAD  
Stock Name HANDAL    
Date Announced21 Sept 2010  
CategoryGeneral Announcement
Reference NoOI-100921-61740