The Board of Geiger Counter Limited is reviewing, with its advisers, a potential bonus issue of subscription shares to existing shareholders on the basis of one subscription share for every two existing ordinary shares held on the record date for the bonus issue.
Each subscription share would confer the right (but not the obligation) to subscribe for one ordinary share. The subscription shares would be exercisable (at the option of the subscription shareholder) on or around the first, second or third anniversary of their issue; and the subscription price would be equal to the published net asset value per ordinary share as at the date on or around the record date for the issue, plus a premium depending upon the year in which they are exercised, as follows:
On or around first anniversary of bonus issue – 5%
On or around second anniversary of bonus issue – 10%
On or around third anniversary of bonus issue – 20%
GCL : Geiger Counter in 1×2 subscription share offer