Adjustment
| JOE HOLDING BERHAD |
| Entitlement subject | Adjustment |
| Entitlement description | ADJUSTMENTS TO THE EXERCISE PRICE AND NUMBER OF OUTSTANDING WARRANTS 2021/2024 IN JOE HOLDING BERHAD ("JOE" OR "COMPANY") ("WARRANT(S) B") CONSTITUTED BY THE DEED POLL DATED 8 APRIL 2021 ("DEED POLL B") PURSUANT TO THE CONSOLIDATION OF EVERY 10 EXISTING ORDINARY SHARES IN JOE ("JOE SHARE(S)" OR "SHARE(S)") INTO 1 JOE SHARE HELD AT 5.00 P.M. ON 23 OCTOBER 2023 ("ENTITLEMENT DATE") ("SHARE CONSOLIDATION") ("ADJUSTMENTS") |
| EX-date | 20 Oct 2023 |
| Entitlement date | 23 Oct 2023 |
| Entitlement time | 5:00 PM |
| Financial Year End | 31 Mar 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 | 23 Oct 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 : 10.0000 |
| Rights Issue/Offer Price | |
| Par Value (if applicable) | |
| Registrar or Service Provider name, address, telephone no |
WORKSHIRE SHARE REGISTRATION SDN BHD A3-3-8, Solaris Dutamas No. 1, Jalan Dutamas 1 50480 Kuala Lumpur Wilayah Persekutuan Malaysia Tel:03 64133271 Fax:03 64133270 |
| Remarks : |
Pursuant to the Share Consolidation, the exercise price and the number 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 outstanding Warrants B will be consolidated on the basis of every 10 Warrants B held by the entitled Warrant B holders (whose names appear in the Record of Depositors at 5.00 p.m. on the Entitlement Date) ("Entitled Warrant B Holders") into 1 Warrant B ("Consolidated Warrant 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.
Pursuant to the Adjustments, the existing number of 917,735,760 Warrants B will be adjusted into a maximum number of 91,773,576 Consolidated Warrants B to be issued and allotted to the Entitled Warrant B Holders. The actual number of Consolidated Warrants B to be allotted and issued would depend on the number of outstanding Warrants B which have yet to be exercised into new JOE Shares as at the Entitlement Date.
Further, the existing exercise price of Warrants B of RM0.05 each will be revised to RM0.50 each pursuant to the Adjustments.
The Consolidated Warrants B will be listed and quoted on the Main Market of Bursa Malaysia Securities Berhad ("Bursa Securities") on 24 October 2023, being the next market day following the Entitlement Date for the Share Consolidation.
The notices of allotment for the Consolidated Warrants B will be despatched to the Entitled Warrant B Holders within 4 market days after the date of listing and quotation of the Consolidated Warrants B on the Main Market of Bursa Securities. The notice to the Entitled Warrant B Holders (setting out the details of the Adjustments) will be despatched to the Entitled Warrant B Holders in due course.
The Adjustments will result in a reduction in the number of Warrants B available in the market and the trading price of the Warrants B will be adjusted accordingly in proportion to the basis of the Adjustments. The Entitled Warrant B Holders are strongly advised to trade cautiously to prevent overselling of their position in respect of their Warrants B.
This announcement is dated 6 October 2023. |
Announcement Info
| Company Name | JOE HOLDING BERHAD |
| Stock Name | JOE-WB |
| Date Announced | 06 Oct 2023 |
| Category | Entitlement(Notice of Book Closure) |
| Reference Number | ENT-06102023-00003 |