Proposed Renounceable rights issue of up to 233,249,942 New ordinary shares of RM0.50 each in salcon ("Rights Shares") with Up to 116,624,971 Free Detachable Warrants ("warrants"), on The Basis of two (2) rights shares with One (1) Warrant For Every Two (2) Existing Ordinary Shares of Rm0.50 Each In Salcon ("Salcon Shares" Or "Shares") Held On A Date To Be Determined Later At An Indicative issue Price Of RM0.57 Per rights Share ("Proposed Rights Issue With Warrants")

BackFeb 16, 2007

General Announcement
Reference No MM-070216-61060

Submitting Merchant Bank
:
 MIMB INVESTMENT BANK BERHAD 
Company Name
:
 SALCON BERHAD 
Stock Name
:
 SALCON
Date Announced
:
 16/02/2007


Type : Announcement
Subject : PROPOSED RENOUNCEABLE RIGHTS ISSUE OF UP TO 233,249,942 NEW ORDINARY SHARES OF RM0.50 EACH IN SALCON ("RIGHTS SHARES") WITH UP TO 116,624,971 FREE DETACHABLE WARRANTS ("WARRANTS"), ON THE BASIS OF TWO (2) RIGHTS SHARES WITH ONE (1) WARRANT FOR EVERY TWO (2) EXISTING ORDINARY SHARES OF RM0.50 EACH IN SALCON ("SALCON SHARES" OR "SHARES") HELD ON A DATE TO BE DETERMINED LATER AT AN INDICATIVE ISSUE PRICE OF RM0.57 PER RIGHTS SHARE ("PROPOSED RIGHTS ISSUE WITH WARRANTS")

Contents :

We refer to the announcement dated 15 January 2007 and 15 February 2007 in relation to the abovementioned Proposed Rights Issue with Warrants. On behalf of the Board of Directors of Salcon, MIMB Investment Bank Berhad (formerly known as Malaysian International Merchant Bankers Berhad), wishes to announce that the Company has submitted its application to the Securities Commission in relation to the Proposed Rights Issue with Warrants on 16 February 2007.

This announcement is dated 16 February 2007.