MLAB - Notice of Book Closure

CONSOLIDATION OF EVERY 20 EXISTING ORDINARY SHARES IN MLABS SYSTEMS BERHAD ("MLABS" OR "COMPANY") ("MLABS SHARES") HELD AS AT 5.00 P.M. ON 3 APRIL 2024 ("ENTITLEMENT DATE") INTO 1 MLABS SHARE ("CONSOLIDATED SHARE") ("SHARE CONSOLIDATION")

Kindly be advised of the following :

1) The above Company's securities will be traded and quoted "Ex - Consolidation” as from: 02 Apr 2024
2) The last date of lodgment : 03 Apr 2024

Remarks : 

Participating Organisations are to take note of the following Share Consolidation exercise by MLABS SYSTEMS BERHAD.

The Share Consolidation comprises the following:-

CONSOLIDATION OF EVERY 20 EXISTING ORDINARY SHARES IN MLABS SYSTEMS BERHAD ("MLABS" OR "COMPANY") ("MLABS SHARES") HELD AS AT 5.00 P.M. ON 3 APRIL 2024 ("ENTITLEMENT DATE") INTO 1 MLABS SHARE ("CONSOLIDATED SHARE") ("SHARE CONSOLIDATION")

In relation to the Share Consolidation undertaken by MLAB as a SPEEDS Corporate Exercise, Bursa Malaysia Securities Berhad would like to highlight that:

(a) on or after the Ex-date on 2 Apr 2024, trading of MLAB shares will be based on the newly adjusted share after the Share Consolidation of MLAB shares,

(b) on the basis of settlement taking place after 3 Apr 2024 with consolidated MLAB shares, any entitled shareholder who owns MLAB shares as at Ex-date may sell only up to the maximum MLAB shares he expects to receive after the Share Consolidation, i.e. the reduced amount, on or after the Ex-date 2 Apr 2024.

With the adjustments pursuant to the Share Consolidation effected on MLAB shareholders’ CDS account at the end of the Entitlement Date (“Books Closure Date”), an entitled MLAB shareholder may use the following basis to estimate the maximum number of MLAB shares that he may sell from the Ex-date until the Book Closing Date which is from 2 Apr 2024 until 3 Apr 2024.
 

Illustration:

For example, if Mr X owns or purchases 2000 MLAB shares on cum basis on 1 Apr 2024, his CDS account would still show 2000 MLAB shares until 3 Apr 2024. However, as a result of the above Share Consolidation exercise, Mr X’s 2000 MLAB  shares in his CDS account will be adjusted to 100 MLAB shares on the night of 3 Apr 2024 which is the Book Closing Date. Therefore, Mr X may, if he so wishes, sells only up to 100 MLAB shares on or after the Ex-date i.e. from 2 Apr 2024 onwards.
 

Participating Organisations are hereby requested to caution all dealers and remisiers that, during the period from 2 Apr 2024 until 3 Apr 2024, they are only entitled to sell the maximum of 1/20 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.