| Type | Announcement |
| Subject | OTHERS |
| Description | DIGI.COM BERHAD ("DIGI" OR "COMPANY") CAPITAL MANAGEMENT INITIATIVES BY DIGI AND ITS SUBSIDIARY |
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On behalf of the Board of Directors of DiGi, Hong Leong Investment Bank Berhad is pleased to announce that DiGi Telecommunications Sdn Bhd, a wholly-owned subsidiary of DiGi (“DiGiTel”), proposes to undertake a capital management initiative whereby DiGiTel will undertake a capital distribution of approximately RM509 million to DiGi (“Proposed Capital Distribution”).
The Proposed Capital Distribution entails the issuance of 100,000 redeemable preference shares (“RPS”) from DiGiTel to DiGi. Each RPS will be issued at its par value of RM0.01 and will be redeemed at a redemption price of RM5,090.01. The cash proceeds of approximately RM509 million will be paid to DiGi upon redemption of the RPS. DiGi intends to distribute the excess proceeds to its shareholders whose names appear in the Record of Depositors of the Company on an entitlement date, via dividend or in such other manner, to be determined and announced later. The Proposed Capital Distribution is not subject to any other approvals, save for the approval of DiGi and lenders of DiGiTel. Barring any unforeseen circumstances, DiGi is expected to complete the distribution by the first half of 2012. The capital management initiative is undertaken by DiGi and its subsidiary to reward shareholders for their continuous support in DiGi. This announcement is dated 8 September 2011. |
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| Company Name | DIGI.COM BERHAD |
| Stock Name | DIGI |
| Date Announced | 8 Sept 2011 |
| Category | General Announcement |
| Reference No | ML-110907-64283 |
