It is learnt that the company would issue not more than 140 million shares of 10 sen each based on its paid-up share capital of 252 million and the proposed private placement of 10% of its paid-up capital.

Sources said the bonus issue would be capitalised partly from the proceeds raised from the private placement exercise. The issue price of the placement exercise will be determined later.

On March 24, Nextnation received the Securities Commission’s approval for the private placement of up to 25.2 million shares of 10 sen each. The company said the placement shares would be placed out to non-related investors to be determined at a later stage and might be implemented in tranches.

About Nextnation Communication Berhad

Nextnation Communication‚ a mobile application service provider‚ enables businesses and individuals to access‚ connect‚ and transact across today's complex global mobile networks. Its core product MINDCEP™ Platform is a mobile multimedia communication platform‚ facilitating and enabling mobile data transmission worldwide using WAP‚ MMS‚ SMS and Java technologies. MINDCEP™ is connected to some of the largest premium messaging networks in the world in order to offer a broad range of services from content distribution to mobile m-commerce and place the company at the forefront of this rapidly growing messaging market. Additional news and information about the company is available at www.nextnationnet.com.