Change - S P Setia Berhad

64
Annual report 2008
Directors’ Report
FOR THE YEAR ENDED 31 OCTOBER 2008
ISSUE OF SHARES
During the financial year, the Company increased its paid up share capital by the issuance of the following:
(i)
(ii)
336,302,604 new ordinary shares of RM0.75 each on the basis of one (1) new share for every two (2) existing shares held pursuant
to the Bonus Issue; and
7,790,655 new ordinary shares of RM0.75 each, for cash arising from the exercise of Warrants at a exercise price of RM4.48 per
ordinary shares.
The new ordinary shares rank pari passu in all respects with the existing ordinary shares.
ISSUE OF BOND AND WARRANTS
The Company, under a Trust Deed and a Deed Poll dated 5 November 2007 and 19 November 2007, respectively, issued RM500,000,000
nominal value of 2.00% Redeemable Serial Bonds (“Bonds”) with 168,151,302 detachable provisional rights to allotment of warrants
(“Warrants”) on a bought deal basis to Primary Subscribers.
The terms of the Bonds are disclosed in note 25 to the financial statements.
The Warrants were offered for sale to the existing shareholders, on a renounceable rights basis, at an offer price of 30 sen per Warrant
on the basis of one (1) Warrant for every four (4) ordinary shares of RM0.75 each in the Company.
DIRECTORS
The directors in office since the date of the last report are:
Tan Sri Abdul Rashid Bin Abdul Manaf
Tan Sri Dato’ Sri Liew Kee Sin
Dato’ Voon Tin Yow
Tan Sri Dato’ Hari Narayanan a/l Govindasamy
Dato’ Leong Kok Wah
Datuk Ismail Bin Adam
Yap Kok Weng
Khor Chap Jen
Ng Soon Lai @ Ng Siek Chuan
Chang Khim Wah
Teow Leong Seng
Tan Sri Lee Lam Thye (appointed on 17 December 2007)
In accordance with the Company’s Articles of Association, Tan Sri Dato’ Sri Liew Kee Sin, Tan Sri Dato’ Hari Narayanan a/l Govindasamy,
Khor Chap Jen and Ng Soon Lai @ Ng Siek Chuan retire from the Board at the forthcoming annual general meeting and, being eligible,
offer themselves for re-election.