DESTINI-WB
Adjustment
| DESTINI BERHAD |
| Entitlement subject | Adjustment |
| Entitlement description | ADJUSTMENTS TO THE EXERCISE PRICE AND NUMBER OF OUTSTANDING WARRANTS 2024/2029 OF DESTINI BERHAD ("DESTINI" OR THE "COMPANY") ("WARRANT(S) B") AS SPECIFIED IN THE DEED POLL DATED 26 JANUARY 2024 ("DEED POLL B"), PURSUANT TO THE SHARE CONSOLIDATION OF EVERY 10 EXISTING ORDINARY SHARES IN DESTINI ("DESTINI SHARE(S)") INTO 1 DESTINI SHARE ("CONSOLIDATED SHARE(S)") ("SHARE CONSOLIDATION") |
| EX-date | 10 Jun 2024 |
| Entitlement date | 11 Jun 2024 |
| Entitlement time | 5:00 PM |
| Financial Year End | 30 Jun 2024 |
| 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 | 11 Jun 2024 |
| 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 : 10.0000 |
| Rights Issue/Offer Price | |
| Par Value (if applicable) | |
| Registrar or Service Provider name, address, telephone no |
INSURBAN CORPORATE SERVICES SDN BHD 149 Jalan Aminuddin Baki Taman Tun Dr Ismail 60000 Kuala Lumpur Wilayah Persekutuan Malaysia Tel:0377295529 Fax:0377285948 |
| Remarks : |
Pursuant to the Share Consolidation, the number and exercise price of outstanding Warrants B which are not exercised prior to the Entitlement Date will be adjusted in accordance with the provisions of the Deed Poll B.
The Warrants B will be consolidated on the basis of every 10 Warrants B held by the entitled holders of Warrants B of the Company ("Entitled Holders") (whose names appear in the Record of Depositors at 5.00 p.m. on the Entitlement Date) into 1 Warrant B ("Consolidated Warrants B").
Fractional entitlements arising from the Adjustments, if any, shall be disregarded and dealt with by the Board of Directors of the Company in such manner at its absolute discretion as it may deem fit or expedient and in the best interest of the Company. The actual number of Consolidated Warrants B to be consolidated would depend on the number of outstanding Warrants B which have yet to be exercised into new Destini Shares as at the Entitlement Date.
Pursuant to the Adjustments, the existing exercise price of Warrants B of RM0.054 each will be revised to RM0.540 each.
The date of the listing and quotation for the Consolidated Warrants B on the Main Market of Bursa Malaysia Securities Berhad ("Bursa Securities") shall be on 12 June 2024, being the next market date immediately after the Entitlement Date.
The notices of allotment of the Consolidated Warrants B will be issued and despatched to all the Entitled Holders within 4 market days after the date of the listing and quotation for the Consolidated Warrants B on the Main Market of Bursa Securities. The notice to the holders of Warrants B (setting out the details of the Adjustments) will be despatched to the Entitled Holders in due course.
This announcement is dated 24 May 2024. |
Announcement Info
| Company Name | DESTINI BERHAD |
| Stock Name | DESTINI-WB |
| Date Announced | 24 May 2024 |
| Category | Entitlement(Notice of Book Closure) |
| Reference Number | ENT-24052024-00021 |