PTRANS-WB - Notice of Book Closure

ADJUSTMENT TO THE EXERCISE PRICE AND THE NUMBER OF OUTSTANDING WARRANTS B IN ACCORDANCE WITH THE PROVISIONS OF THE DEED POLL DATED 14 JULY 2021 PURSUANT TO THE BONUS ISSUE OF UP TO 433,644,611 NEW ORDINARY SHARES IN PERAK TRANSIT ("PERAK TRANSIT SHARES" OR "SHARES") ("BONUS SHARES") ON THE BASIS OF 1 BONUS SHARE FOR EVERY 2 EXISTING PERAK TRANSIT SHARES HELD AT 5.00 P.M. ON 7 MARCH 2024

Kindly be advised of the following :

1) The above Company's securities will be traded and quoted "Ex - Adjustment” as from: 06 Mar 2024
2) The last date of lodgment : 07 Mar 2024

Remarks 1: 

Bursa Malaysia Securities Bhd would like to clarify that on the basis of settlement taking place after 07 Mar 2024 with adjustment to the number of outstanding PTRANS-WB shares, any shareholder who is entitled to receive PTRANS-WB additional shares may now sell any or all of his PTRANS-WB shares arising from adjustment consequent to the bonus issue beginning the Ex-Date (06 Mar 2024).

For example, if Mr X purchases 200 shares on cum basis on 05 Mar 2024, Mr X should receive 200 shares on 07 Mar 2024 . 
Consequent to a bonus issue, an additional of 100 PTRANS-WB shares will be credited into Mr X's CDS account on the night of 07 Mar 2024 being the Book Closing Date. Therefore, Mr X can sell a total of 300 PTRANS-WB shares on or after the Ex-Date ie from 06 Mar 2024 onwards.

Remarks 2: 

Holders of the Warrants B ("Warrant Holders") who wish to be entitled to the Bonus Shares should exercise their Warrants B by lodging their duly completed exercise forms together with the relevant subscription monies with Perak Transit's share registrar on or before 5.00 p.m. on 26 February 2024 such that their names will appear on the Record of Depositors at 5.00 p.m. on the Entitlement Date. 

Up to 62,579,143 additional Warrants B will be allotted and issued pursuant to the Adjustments. The exact number of additional Warrants B to be allotted and issued will depend on the number of outstanding Warrants B as at the Entitlement Date. 

Fractional entitlements arising from the Adjustments, if any, will be disregarded, and/or dealt with by the Board of Directors of Perak Transit, in such manner as it may in its absolute discretion deem fit or expedient and in the best interest of the Company.

The additional Warrants B will be listed and quoted on the Main Market of Bursa Securities simultaneously with the Bonus Shares on 8 March 2024, being the next market day immediately after the Entitlement Date.

Perak Transit's share registrar will issue and despatch the notice to Warrant Holders setting out the details of the Adjustments and notice of allotment for the additional Warrants B in due course.