Help International Corporation has proposed to undertake a renounceable rights issuance of RM71m nominal value of five-year 4% Irredeemable Convertible Unsecured Loan Stocks (ICULS) on the basis of one 50 sen nominal value of ICULS for every one Help share. The conversion price for the ICULS is fixed at RM1.50 for every one new Help share or 3 ICULS for every 1 HELP share. The completion of the renounceable rights issuance is expected at the fourth quarter of this year. (Starbiz)
Please refer to our report for further details.