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Amended Announcements Please refer to the earlier announcement reference number: LIP-18042016-00002
SPRING GALLERY BERHAD ("SGB" OR THE "COMPANY") Issuance of 522,500,000 new irredeemable convertible preference shares of RM0.05 each in SGB ("ICPS") to the entitled shareholders of SGB pursuant to the renounceable rights issue of up to 522,500,000 ICPS on the basis of five (5) ICPS for every one (1) existing ordinary share of RM0.50 each in SGB ("SGB Share" or "Share") held as at 5.00 p.m. on 21 March 2016 ("Entitlement Date"), together with up to 52,250,000 free detachable warrants ("Warrants") on the basis of one (1) Warrant for every ten (10) ICPS ("Rights Issue of ICPS With Warrants")
SGB has full discretion over the declaration of dividends, if any, and over the dividend rate which will be calculated based on the nominal value of the ICPS.
At any time during the exercise period indicated above, (i) every one (1) ICPS together with RM0.54 cash can be converted into one (1) new SGB Share, or (ii) every ten (10) ICPS, without any cash, can be converted into one (1) new SGB Share. This announcement is dated 19 April 2016.