This excerpt taken from the TTM 6-K filed Sep 29, 2008.
The following is a summary of the Issue. This summary should be read in conjunction with, and is qualified in its entirety by, more detailed information in Terms of the Present Issue on page 241 of this Letter of Offer.
This simultaneous but unlinked issue of Ordinary Shares and A Ordinary Shares is being made by the Company as set forth below:
There are 13,131 Ordinary Shares which are held in abeyance, pending disputes resolution amongst Shareholders.
The Issuer has obtained Shareholders approval vide postal ballot on July 14, 2008 for an issue of Ordinary Shares, A Ordinary Shares and/or securities linked to, or convertible into Ordinary Shares/ A Ordinary Shares, including, but not limited to, depositary receipts in the international market for an amount not more that US$ 1 billion, in one or more tranches. While the terms of the same are not yet finalized, the Company expects to issue the same, post the date on which the Securities under this Letter of Offer are listed or application moneys are refunded on account of the failure of the Issue. Such securities being issued after the record date will not be entitled to rights. If issued post the date on which the Securities under this Letter of Offer are listed after the rights issue, the capital structure may undergo change within six months from the closure of the rights issue.