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1. INTRODUCTION
The Board of Directors of Adventa Berhad (“Adventa” or the “Issuer”) wishes to announce that Maybank Investment Bank Berhad (“Maybank IB”), had on 26 May 2011, submitted on behalf of Adventa to the Securities Commission (“SC”) a copy of the Information Memorandum (“IM”), dated 26 May 2011, together with the application for the Proposed Programme (“ICP/IMTN Programme Submission”) and upon such deposit of the IM and the ICP/IMTN Programme Submission, the SC has granted its approval for the Proposed Programme.
The Proposed Programme is guaranteed by Maybank Islamic Berhad and has been accorded a short term rating of P1(bg) and a long term rating of AAA(bg) by RAM Rating Services Berhad.
In connection with the above, Maybank IB has been mandated by Adventa to act as Principal Adviser, Lead Arranger and Lead Manager for the Proposed Programme.
2. PURPOSE OF THE PROPOSED PROGRAMMES
The proceeds raised under the ICP/IMTN Programme shall be utilized by the Issuer and/or its subsidiaries, associate companies and/or jointly controlled entities (“Adventa Group”) for the following purposes:
(i) to finance domestic or foreign future working capital requirements;
(ii) to finance domestic or foreign current and/or future projects and/or investments and/or capital expenditure;
(iii) if required, to refinance borrowings (whether in whole or in part); and/or
(iv) to defray expenses incurred from the setting up of the ICP/IMTN Programme.
Notes: Once the ICP and IMTN (“Sukuk”) have been issued for purposes set out above, the Issuer may issue new Sukuk to either redeem any outstanding Sukuk and/or for the purposes as set out above.
In any case, all utilization of funds under the ICP/IMTN Programme shall be Shariah compliant.
3. FINANCIAL EFFECTS
3.1 Share Capital
The Proposed Programme will not have any effect on the share capital of Adventa.
3.2 Shareholdings Structure
The Proposed Programme will not have any effect on the shareholdings structure of Adventa.
3.3 Net Assets Per Share and Earnings
The Proposed Programme is not expected to have any material effect on the net assets per share and earnings of Adventa for the financial year ending 31 October 2011.
4. REGULATORY APPROVALS REQUIRED
Other than the SC’s approval, no further regulatory approval is required.
5. DIRECTORS' AND SUBSTANTIAL SHAREHOLDERS INTEREST
Insofar as the Directors are able to ascertain and are aware, none of the Directors (or past Directors) and substantial shareholders of Adventa and persons connected to them pursuant to Section 122A and Section 6A of the Companies Act, 1965 have any interest, direct or indirect, in the Proposed Programme.
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