Salcon Berhad ("Salcon" Or "Company") Proposed Private Placement of Up To 10% of The Issued And Paid-up Share Capital Of Salcon

BackDec 21, 2007
General Announcement
Reference No MM-071221-61018

Submitting Merchant Bank
:
 MIMB INVESTMENT BANK BERHAD 
Company Name
:
 SALCON BERHAD 
Stock Name
:
 SALCON
Date Announced
:
 21/12/2007


Type
:
 Announcement
Subject
:
SALCON BERHAD ("Salcon" or "Company")

PROPOSED PRIVATE PLACEMENT OF UP TO 10% OF THE ISSUED AND PAID-UP SHARE CAPITAL OF SALCON

Contents
:
On behalf of the Board of Directors of Salcon ("Board"), MIMB Investment Bank Berhad ("MIMB") wishes to announce that the Company is proposing to undertake a private placement of up to 58,312,000 new ordinary shares of RM0.50 each in Salcon ("Shares" or the "Salcon Shares") representing approximately 10% of the enlarged issued and paid-up share capital of Salcon based on the assumption that the existing outstanding warrants and options pursuant to the Company's employees share option scheme are fully exercised ("Proposed Private Placement").

Further details on the Proposed Private Placement are set out in the attachment below.

Attachments
:
 Proposed Placement.DOC