Announcement
September 8, 2009

Updated : 08/09/2009

Bonus Issue and Rights Issue of Warrants


Further to our announcement on 28 August 2009, the Company is pleased to announce that Bursa Malaysia Securities Berhad (“Bursa Securities”) had on 7 September 2009 approved the following:-

(i)

the listing and quotation of up to 385,519,830 Bonus Shares on the Main Market of Bursa Securities;

(ii)

the listing and quotation of up to 8,708,936 additional Warrants 2005/2010 to be issued pursuant to adjustment arising from the Bonus Issue;

(iii)

the listing of up to 8,708,936 new IJM Shares to be issued pursuant to the exercise of the additional Warrants 2005/2010;

(iv)

the admission to the official list and the listing and quotation of up to 134,931,940 new warrants in the Company (“IJM Warrants”) to be issued pursuant to the Rights Issue of Warrants; and

(v)

the listing of up to 134,931,940 new IJM Shares to be issued pursuant to the exercise of IJM Warrants.


The approval granted by Bursa Securities in relation to the Bonus Issue is subject to the following conditions:-
 

i)

IJM and its adviser must fully comply with the relevant provisions under the Listing Requirements of Bursa Securities pertaining to the implementation of the Bonus Issue;

(ii)

IJM and its adviser to inform Bursa Securities upon the completion of the Bonus Issue;

(iii)

IJM to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities’ approval once the Bonus Issue is completed; and

(iv)

IJM and its adviser are required to make the relevant announcements pursuant to Paragraphs 6.35(2)(a) & (b), 6.35(4) and 6.56(2) of the Listing Requirements.

Following the approval of the Bursa Securities, the Company is also pleased to announce that:-

(i)

the issue price for the IJM Warrants has been fixed at RM0.25 per IJM Warrant; and

(ii)

the exercise price for the IJM Warrants has been fixed at RM4.00 for every one (1) new IJM Share.

 

 

The issue price and the exercise price for the IJM Warrants were determined by the Directors after taking into consideration, inter-alia, the historical volatility of the IJM Shares and the theoretical ex-bonus price of the IJM Shares of RM4.23, which was calculated based on the five (5)-day volume weighted average price of the IJM Shares up to and including 7 September 2009 of RM5.93.

 

 
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