KUALA LUMPUR (Jan 25): CYBERTOWERS BHD [] has received the Securities Commission’s approval to issue up to RM11 million in loan stocks under its proposed corporate exercise.
It said on Wednesday the SC had, in its Jan 20 letter, gave its nod for the proposed issuance of the RM11 million nominal value of two-year, 0%, irredeemable convertible unsecured loan stocks (ICULS) at 100% of its nominal value of 2.0 sen each.
Cybertowers had on Nov 17, 2011 proposed to reduce the share premium account by up to RM2.03 million. It also proposed to cancel 8.0 sen of the par value of each 10 sen share.
The company had also proposed to place out up to 10 million new of 2.0 sen each, or 10% of the paid-up share capital.
Under the exercise, it had also proposed the renounceable rights issue of up to RM11 million ICULS and to diversify into the provision of hosting services and cloud computing related business.
It said on Wednesday the SC had, in its Jan 20 letter, gave its nod for the proposed issuance of the RM11 million nominal value of two-year, 0%, irredeemable convertible unsecured loan stocks (ICULS) at 100% of its nominal value of 2.0 sen each.
Cybertowers had on Nov 17, 2011 proposed to reduce the share premium account by up to RM2.03 million. It also proposed to cancel 8.0 sen of the par value of each 10 sen share.
The company had also proposed to place out up to 10 million new of 2.0 sen each, or 10% of the paid-up share capital.
Under the exercise, it had also proposed the renounceable rights issue of up to RM11 million ICULS and to diversify into the provision of hosting services and cloud computing related business.
