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ASIA BIOENERGY TECHNOLOGIES BERHAD ("ASIABIO" or "Company") - Conversion of Convertible Preference Shares in Nexfuel Sdn. Bhd.

ASIA BIOENERGY TECHNOLOGIES BERHAD

TypeAnnouncement
SubjectASIA BIOENERGY TECHNOLOGIES BERHAD ("ASIABIO" or "Company")
- Conversion of Convertible Preference Shares in Nexfuel Sdn. Bhd.
ContentsThe Board of ASIABIO wishes to announce that the Company and its wholly owned subsidiary company, Asia Bioenergy Research Sdn. Bhd. ("ABR") has on 15 December 2009 converted in total 4,004,000 Convertible Preference Shares ("CPS") of RM0.10 each in Nexfuel Sdn. Bhd. ("Nexfuel") to 144, 000 new ordinary shares of RM1.00 each in Nexfuel (hereinafter referred to as the "Conversion").

Pursuant to the Conversion, ASIABIO and ABR hold in total 144,000 ordinary shares in Nexfuel, which is equivalent to an equity stake of 40% in Nexfuel. Consequently, Nexfuel is now an associated company of ABR.

The details of the Conversion are set out in the attachment below.

Kenanga Investment Bank Berhad is the Sponsor for ASIABIO.

This announcement is dated 15 December 2009.


Announcement Info

Company NameASIA BIOENERGY TECHNOLOGIES BERHAD (ACE Market) 
Stock Name ASIABIO    
Date Announced15 Dec 2009  
CategoryGeneral Announcement
Reference NoCU-091215-57358



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