Adjustment
| MERIDIAN BERHAD |
| Entitlement subject | Adjustment |
| Entitlement description | MERIDIAN BERHAD ("MERIDIAN" OR THE "COMPANY")
ADJUSTMENTS TO THE EXERCISE PRICE AND NUMBER OF OUTSTANDING WARRANTS 2014/2024 IN MERIDIAN ("WARRANTS C") AS CONSTITUTED BY THE DEED POLL DATED 7 AUGUST 2014 ("DEED POLL C"), PURSUANT TO THE SHARE CONSOLIDATION OF EVERY 4 EXISTING ORDINARY SHARES IN MERIDIAN ("MERIDIAN SHARES" OR "SHARES") HELD AT 5.00 P.M. ON 21 FEBRUARY 2023 ("SHARE CONSOLIDATION ENTITLEMENT DATE") INTO 1 CONSOLIDATED MERIDIAN SHARE ("CONSOLIDATED SHARE") ("SHARE CONSOLIDATION") |
| EX-date | 20 Feb 2023 |
| Entitlement date | 21 Feb 2023 |
| Entitlement time | 5:00 PM |
| Financial Year End | 30 Jun 2023 |
| Period of interest payment | to |
| Share transfer book & register of members will be | to closed from (both dates inclusive) for the purpose of determining the entitlement |
| Payment date | |
| a.Securities transferred into the Depositor's Securities Account before 4:30 pm in respect of transfers | 21 Feb 2023 |
| b.Securities deposited into the Depositor's Securities Account before 12:30 pm in respect of securities exempted from mandatory deposit | |
| c. Securities bought on the Exchange on a cum entitlement basis according to the Rules of the Exchange. | |
| Number of new
shares/securities issued (units) (If applicable) |
|
| Entitlement indicator | Ratio |
| Ratio | 1.0000 : 4.0000 |
| Rights Issue/Offer Price | |
| Par Value (if applicable) | |
| Registrar or Service Provider name, address, telephone no |
BOARDROOM SHARE REGISTRARS SDN BHD 11th Floor, Menara Symphony No. 5, Jalan Prof. Khoo Kay Kim Seksyen 13 46200 Petaling Jaya Selangor Malaysia Tel:0378904700 Fax:0378904670 |
| Remarks : |
Pursuant to the Share Consolidation, the exercise price and the number of outstanding Warrants C which are not exercised prior to the Share Consolidation Entitlement Date will be adjusted in accordance with the provisions of the Deed Poll C ("Adjustments").
The outstanding Warrants C will be consolidated on the basis of every 4 Warrants C held by the entitled Warrant C holders, whose names appear in the Record of Depositors at 5.00 p.m. on the Share Consolidation Entitlement Date ("Entitled Warrant C Holders") into 1 consolidated Warrant C ("Consolidated Warrant C").
Fractional entitlements arising from the Adjustments, if any, will be disregarded, and/or dealt with by the Board of Directors of Meridian, in such manner as it may in its absolute discretion deem fit or expedient and in the best interest of the Company.
Pursuant to the Adjustments, the existing number of 48,421,408 Warrants C will be adjusted into a maximum number of 12,105,352 Consolidated Warrants C. The actual number of Consolidated Warrants C to be issued and allotted would depend on the number of outstanding Warrants C which have yet to be exercised into new Meridian Shares as at the Share Consolidation Entitlement Date.
Further, the existing exercise price of Warrants C of RM0.80 each will be revised to RM3.20 each pursuant to the Adjustments.
The Consolidated Warrants C will be listed and quoted on the Main Market of Bursa Malaysia Securities Berhad ("Bursa Securities") on 22 February 2023, being the next market day following the Share Consolidation Entitlement Date.
The notice of allotment for the Consolidated Warrants C will be despatched to the Entitled Warrant C Holders not later than 4 market days after the date of listing of and quotation of the Consolidated Warrants C on Bursa Securities. The notice to the Entitled Warrant C Holders (setting out the details of the Adjustments) will be despatched to the Entitled Warrant C Holders in due course.
The Share Consolidation will result in a reduction in the number of Warrants C available in the market and the trading price of the Warrants C will be adjusted accordingly in proportion to the basis of the Share Consolidation. Please refer to Section 3.1 of the Meridians Circular dated 30 November 2022 for details on the adjustments to the number of Warrants C and trading price of Warrants C.
This announcement is dated 7 February 2023. |
Announcement Info
| Company Name | MERIDIAN BERHAD |
| Stock Name | MERIDIAN-WC |
| Date Announced | 07 Feb 2023 |
| Category | Entitlement(Notice of Book Closure) |
| Reference Number | ENT-07022023-00007 |