HEVEABOARD BERHAD ("HEVEABOARD" OR THE "COMPANY") (I) RENOUNCEABLE RIGHTS ISSUE OF UP TO 42,666,667 NEW WARRANTS IN HEVEABOARD ("NEW HEVEA WARRANTS") TO ALL THE SHAREHOLDERS OF HEVEABOARD ON THE BASIS OF ONE (1) NEW HEVEA WARRANT FOR EVERY THREE (3) EXIST

HEVEABOARD BERHAD ("HEVEABOARD" OR THE "COMPANY")

 

(I) RENOUNCEABLE RIGHTS ISSUE OF UP TO 42,666,667 NEW WARRANTS IN HEVEABOARD ("NEW HEVEA WARRANTS") TO ALL THE SHAREHOLDERS OF HEVEABOARD ON THE BASIS OF ONE (1) NEW HEVEA WARRANT FOR EVERY THREE (3) EXISTING ORDINARY SHARES OF RM1.00 EACH HELD IN HEVEABOARD ("RIGHTS ISSUE"); AND

 

(II) RESTRICTED ISSUE OF UP TO 12,533,333 NEW HEVEA WARRANTS IN HEVEABOARD TO THE HOLDERS OF UNEXERCISED 2004/2009 WARRANTS ON 31 DECEMBER 2009, BEING THE EXPIRY DATE OF THE WARRANTS ("EXPIRY DATE") ON THE BASIS OF ONE (1) NEW HEVEA WARRANT FOR EVERY THREE (3) UNEXERCISED 2004/2009 WARRANTS HELD ON THE EXPIRY DATE ("RESTRICTED ISSUE")

 

(COLLECTIVELY REFERRED TO AS THE "CORPORATE EXERCISES")

We refer to the announcements made on 2 October 2009, 16 November 2009, 23 November 2009, 1 December 2009 and 18 January 2010 in relation to the Corporate Exercises, as well as the Abridged Prospectus issued by HeveaBoard dated 4 February 2010.

On behalf of the Board of Directors of HeveaBoard ("Board"), we wish to announce that as at the date of the closing of acceptance and payment for the Corporate Exercises at 5.00 p.m. on 19 February 2010 ("Closing Date"):-

 

(a) a total of 28,109,336 acceptances and 333,024,456 excess applications, representing an aggregate of 361,133,792 subscriptions were received under the Rights Issue. This represents an over-subscription of 331,000,459 New Hevea Warrants or approximately 1,098.45% over the total number of 30,133,333 New Hevea Warrants made available for subscription under the Rights Issue; and

 

(b) a total of 12,181,143 acceptances and 32,899,552 excess applications, representing an aggregate of 45,080,695 subscriptions were received under the Restricted Issue. This represents an over-subscription of 32,547,362 New Hevea Warrants or approximately 259.69% over the total number of 12,533,333 New Hevea Warrants made available for subscription under the Restricted Issue.

 

Further details on the announcement are set out in the attachment below.