HONGSENG-WA
Adjustment
| HONG SENG CONSOLIDATED BERHAD |
| Entitlement subject | Adjustment |
| Entitlement description | ADJUSTMENTS TO THE EXERCISE PRICE AND NUMBER OF OUTSTANDING WARRANTS IN HONG SENG CONSOLIDATED BERHAD (FORMERLY KNOWN AS MSCM HOLDINGS BERHAD) ("HONG SENG" OR "COMPANY") AS CONSTITUTED BY THE DEED POLL DATED 13 AUGUST 2019 ("DEED POLL A") ("WARRANTS A") 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") |
| EX-date | 14 Jun 2021 |
| Entitlement date | 15 Jun 2021 |
| Entitlement time | 5:00 PM |
| Financial Year End | 30 Sep 2021 |
| 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 | 15 Jun 2021 |
| 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 | 2.0000 : 1.0000 |
| 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 (Jalan Semangat) Seksyen 13 46200 Petaling Jaya Selangor Malaysia Tel:0378904700 Fax:0378904670 |
| Remarks : |
Pursuant to the Share Split, the exercise price and number of outstanding Warrants A (which are not exercised into new Hong Seng Shares prior to the Entitlement Date) shall be adjusted in accordance with the provisions of the Deed Poll A ("Adjustments").
The outstanding Warrants A will be subdivided on the basis of every 1 Warrant A held by the entitled holders of Warrants A of the Company (whose names appear in the Record of Depositors of the Company at 5.00 p.m. on the Entitlement Date) ("Entitled Warrant A Holders") into 2 Warrants A ("Subdivided Warrant(s) A").
Pursuant to the Adjustments, the existing number of Warrants A of 35,568,391 Warrants A will be adjusted into a maximum number of 71,136,782 Subdivided Warrants A. The actual number of Subdivided Warrants A would depend on the number of outstanding Warrants A which are not exercised into new Hong Seng Shares prior to the Entitlement Date.
Further, pursuant to the Adjustments, the exercise price of Warrants A of RM0.25 each will be revised to RM0.13 each.
The Subdivided Warrants A will be listed and quoted on the Main Market of Bursa Malaysia Securities Berhad on 16 June 2021 ("Listing Date"), being the next market day following the Entitlement Date.
The notice of allotment of the Subdivided Warrants A will be issued and despatched to the Entitled Warrant A Holders at the addresses set out in the Record of Depositors of the Company as at the Entitlement Date within 8 market days after the Listing Date. The notice setting out the details of the Adjustments will be issued and despatched to the Entitled Warrant A Holders in due course.
The Share Split will result in an increase in the number of Warrants A available in the market and the trading price of Warrants A will be adjusted accordingly in proportion to the basis of the Share Split.
Holders of Warrants A who wish to be entitled to the Share Split as the Company's shareholders shall exercise their rights to subscribe for new Hong Seng Shares by lodging their duly completed exercise forms together with the relevant subscription monies with the Share Registrar of Hong Seng (at the address stated above) on or before 5.00 p.m. on Friday, 4 June 2021 such that their names will appear in the Record of Depositors of the Company at 5.00 p.m. on the Entitlement Date.
This announcement is dated 31 May 2021. |
Announcement Info
| Company Name | HONG SENG CONSOLIDATED BERHAD |
| Stock Name | HONGSENG-WA |
| Date Announced | 31 May 2021 |
| Category | Entitlement(Notice of Book Closure) |
| Reference Number | ENT-30052021-00008 |