PROPOSED BONUS ISSUE OF 53,265,600 NEW ORDINARY SHARES

PROPOSED BONUS ISSUE OF 53,265,600 NEW ORDINARY SHARES
19 Jul 2010

Type

Announcement

Subject

HELP INTERNATIONAL CORPORATION BERHAD (“HIC” OR “COMPANY”)

(I) PROPOSED BONUS ISSUE OF 53,265,600 NEW ORDINARY SHARES OF RM0.50 EACH IN HIC (“BONUS SHARES”) ON THE BASIS OF THREE (3) BONUS SHARES FOR EVERY FIVE (5) EXISTING ORDINARY SHARES OF RM0.50 EACH AT PAR HELD IN HIC (“HIC SHARES” OR “SHARES”) (“PROPOSED BONUS ISSUE”);

(II) PROPOSED INCREASE IN THE AUTHORISED SHARE CAPITAL OF HIC FROM RM50,000,000 COMPRISING 100,000,000 SHARES TO RM250,000,000 COMPRISING 500,000,000 SHARES (“PROPOSED INCREASE IN AUTHORISED SHARE CAPITAL”); AND

(III) PROPOSED AMENDMENTS TO THE MEMORANDUM AND ARTICLES OF ASSOCIATION OF HIC (“PROPOSED AMENDMENTS”)

(COLLECTIVELY REFERRED TO AS THE “PROPOSALS”)

Contents

Announcement Details :

On behalf of the Board of Directors of HIC (“Board”), AmInvestment Bank Berhad (a member of AmInvestment Bank Group) (“AmInvestment Bank”) wishes to announce that the Company proposes to undertake the following:-

(i) bonus issue of 53,265,600 new Shares, to be credited as fully paid-up, on the basis of three (3) Bonus Shares for every five (5) existing Shares held at an entitlement date to be determined later;

(ii) increase in the authorised share capital of HIC from RM50,000,000 comprising 100,000,000 Shares to RM250,000,000 comprising 500,000,000 Shares; and

(iii) amendments to the Memorandum and Articles of Association of HIC (“M&A”) pursuant to the Proposed Increase In Authorised Share Capital and to be in line with the recent amendments to the Main Market Listing Requirements (“Listing Requirements”) of Bursa Malaysia Securities Berhad (“Bursa Securities”) relating to the electronic dividend payment (“eDividend”)