Ann Joo to raise RM3.6mil from conversion of RCPS into ordinary shares

PETALING JAYA: Steel miller Ann Joo Resources Bhd will raise nearly RM3.6mil from the conversion of redeemable convertible cumulative preference shares (RCPS) into ordinary shares.

In a filing with Bursa Malaysia yesterday, the company announced that slightly over two million new share units will be issued through the conversion, at RM1.80 apiece.

The new shares from the RCPS conversion will be listed effective today, bringing Ann Joo’s issued share capital size to RM543.42mil.

On March 21, the company said in a stock exchange filing that RCPS holders should submit their conversion notice by 5 pm on April 11 to be entitled for Ann Joo’s interim dividend of 13 sen.

The dividend will be payable on May 21. “The completed form of conversion notice together with the requisite payment must be received by our share registrar, Symphony Share Registrars Sdn Bhd, by the stipulated date and time to enable ordinary shares to be credited to your account by April 23 for the dividend entitlement.

“RCPS holders must take note that on submission of the form of conversion notice, the RCPS are already credited into their securities account and they shall not dispose, transfer or charge or allow the disposal, transfer or charge of the RCPS intended for the conversion, until the conversion is completed by the debiting of such RCPS from their securities account or the conversion is rejected by the company,” said Ann Joo.