AEM-WB - Notice of Book Closure

ADJUSTMENTS TO THE EXERCISE PRICE AND NUMBER OF OUTSTANDING WARRANTS 2021/2024 IN AE MULTI HOLDINGS BERHAD ("AEM" OR THE "COMPANY") ("WARRANTS B") AS SPECIFIED IN THE DEED POLL DATED 1 JULY 2021 ("DEED POLL B"), PURSUANT TO THE CONSOLIDATION OF EVERY 10 EXISTING ORDINARY SHARES IN AEM ("AEM SHARES" OR "SHARES") INTO 1 AEM SHARE ("CONSOLIDATED SHARE") HELD AT 5.00 P.M. ON 21 FEBRUARY 2024 ("ENTITLEMENT DATE") ("SHARE CONSOLIDATION")

Kindly be advised of the following :

1) The above Company's securities will be traded and quoted "Ex - Adjustment” as from: 20 Feb 2024
2) The last date of lodgment : 21 Feb 2024

Remarks 1: 
Participating Organisations are to take note of the following Share Consolidation exercise by AE MULTI HOLDINGS BERHAD - WARRANTS 2021/2024.

The Share Consolidation comprises the following: -
ADJUSTMENTS TO THE EXERCISE PRICE AND NUMBER OF OUTSTANDING WARRANTS 2021/2024 IN AE MULTI HOLDINGS BERHAD ("AEM" OR THE "COMPANY") ("WARRANTS B") AS SPECIFIED IN THE DEED POLL DATED 1 JULY 2021 ("DEED POLL B"), PURSUANT TO THE CONSOLIDATION OF EVERY 10 EXISTING ORDINARY SHARES IN AEM ("AEM SHARES" OR "SHARES") INTO 1 AEM SHARE ("CONSOLIDATED SHARE") HELD AT 5.00 P.M. ON 21 FEBRUARY 2024 ("ENTITLEMENT DATE") ("SHARE CONSOLIDATION")

In relation to the warrants adjustment undertaken by AEM-WB as a SPEEDS Corporate Exercise, Bursa Malaysia Securities Berhad would like to highlight that:
(a) on or after the Ex-date on 20 Feb 2024, trading of AEM-WB shares will be based on the newly adjusted warrants arising from warrants adjustments,
(b) on the basis of settlement taking place after 21 Feb 2024 with adjusted AEM-WB shares, an entitled warrants holder who owns AEM-WB shares as at Ex-date may sell only up to the maximum AEM-WB shares he expects to receive after the adjustment, i.e. the reduced amount, on or after the Ex-date 20 Feb 2024.

With the warrants adjustments pursuant to the Share Consolidation effected on AEM-WB shareholders’ CDS account at the end of the Entitlement Date (“Books Closure Date”), an entitled AEM-WB shareholder may use the following basis to estimate the maximum number of AEM-WB shares that he may sell from the Ex-date until the Book Closing Date which is from 20 Feb 2024 until 21 Feb 2024.

Number of AEM-WB shares                                                               Number of shares held /10
that may be sold from 20 Feb 2024                      =                                       
until 21 Feb 2024                                                                              (All fractional shares computed should be disregarded)

Illustration:
For example, if Mr X owns or purchases 1000 AEM-WB shares on cum basis on 19 Feb 2024, his CDS account would still show 1000 AEM-WB  shares until 21 Feb 2024. However, as a result of the above Share Consolidation exercise, Mr X’s 1000 AEM-WB  shares in his CDS account will be adjusted to 100 AEM-WB shares on the night of 21 Feb 2024 which is the Book Closing Date. Therefore, Mr X may, if he so wishes, sells only up to 100 AEM-WB  shares on or after the Ex-date i.e. from  20 Feb 2024 onwards.

Participating Organisations are hereby requested to caution all dealers and remisiers that, during the period from 20 Feb 2024 until 21 Feb 2024, they are only entitled to sell the maximum of 1/ 10 of the shares owned before the Ex-date. Participants Organisations are reminded that it is important to caution all dealers and remisiers on the above to prevent the dealers and remisiers from overselling of their client’s position

Remarks 2: 
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 ("Adjustments").

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 1,081,720,597 Warrants B will be adjusted into a maximum number of 108,172,059 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 AEM 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 22 February 2024, being the next market day following the Entitlement Date.

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 Share Consolidation 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 Share Consolidation. The Entitled Warrant B Holders are strongly advised to trade cautiously to prevent overselling of their position in respect of the Warrants B held.