HONGSENG-PA

1.740

(%)

Listing Information & Profile

Profile for Securities of PLC

Amended Announcements
Please refer to the earlier announcement reference number: LIP-27092019-00002

HONG SENG CONSOLIDATED BERHAD

Instrument Category Securities of PLC
Instrument Type Preference Shares
Description
HONG SENG CONSOLIDATED BERHAD (FORMERLY KNOWN AS MSCM HOLDINGS BERHAD) ("HONG SENG" OR "COMPANY")

ADJUSTMENTS TO THE CONVERSION PRICE OF IRREDEEMABLE CONVERTIBLE PREFERENCE SHARES IN HONG SENG ("ICPS"), CASH PAYMENT FOR CONVERSION OF ICPS AND NUMBER OF OUTSTANDING ICPS PURSUANT TO THE SHARE SPLIT INVOLVING A SUBDIVISION OF EVERY 1 EXISTING ORDINARY SHARE IN HONG SENG ("HONG SENG SHARE") HELD AS AT 5.00 P.M. ON 15 JUNE 2021 ("ENTITLEMENT DATE") INTO 2 HONG SENG SHARES ("SHARE SPLIT")

1st Further Issue Information

Listing Date 16 Jun 2021
Issue Date 15 Jun 2021
Issue/ Ask Price Malaysian Ringgit (MYR)   0.0250
Issue Size Indicator Unit
Amount Issued under Further Issue in Unit 0
Enlarge Issue Size in Unit 207,696,310

Initial Listing Information

Listing Date 02 Oct 2019
Issue Date 23 Sep 2019
Issue/ Ask Price Malaysian Ringgit (MYR)   0.0500
Issue Size Indicator Unit
Issue Size in Unit 796,457,055
Maturity Mandatory
Maturity Date 22 Sep 2024
Revised Maturity Date
Name of Guarantor Not Applicable
Name of Trustee Not Applicable
Coupon/Profit/Interest/Payment Rate
Hong Seng has full discretion over the declaration of dividends, if any. Dividends declared and payable annually in arrears are non-cumulative and shall be paid in priority over the Hong Seng Shares.
Coupon/Profit/Interest/Payment Frequency Not Applicable
Redemption Not Applicable
Exercise/Conversion Period 5.00   Year(s)
Revised Exercise/Conversion Period Not Applicable
Exercise/Strike/Conversion Price Malaysian Ringgit (MYR)   0.2000
Revised Exercise/Strike/Conversion Price Malaysian Ringgit (MYR)   0.1000
Exercise/Conversion Ratio 4:1
Revised Exercise/Conversion Ratio Not Applicable
Mode of satisfaction of Exercise/ Conversion price Tendering of securities
Settlement Type/ Convertible into Physical (Shares)



Remarks :
Pursuant to the adjustments to the conversion price of ICPS, cash payment for conversion of ICPS and number of outstanding ICPS arising from the Share Split ("Adjustments"),

(i)	the existing number of 103,848,155 ICPS as at the Entitlement Date will be adjusted into 207,696,310 ICPS, which will be listed and quoted on the Main Market of Bursa Malaysia Securities Berhad on 16 June 2021, being the next market day following the Entitlement Date;

(ii)	the conversion price of ICPS of RM0.20 each will be revised to RM0.10 each; and

(iii)	the cash payment for conversion of ICPS (based on the conversion mode of surrendering 1 ICPS with additional cash payment for 1 new Hong Seng Share) of RM0.15 each will be revised to RM0.075 each. 

Further, in accordance with the provisions of the Companys Constitution, the Adjustments will take effect from 16 June 2021, being the next market day following the Entitlement Date.

The notice setting out the details of the Adjustments to the holders of ICPS will be issued and despatched to entitled ICPS holders in due course.

This announcement is dated 15 June 2021.


Announcement Info

Company Name HONG SENG CONSOLIDATED BERHAD
Stock Name HONGSENG-PA
Date Announced 15 Jun 2021
Category Listing Information and Profile
Reference Number LIP-15062021-00006