MNC-WB
Adjustment
| M N C WIRELESS BERHAD |
| Entitlement subject | Adjustment |
| Entitlement description | ADJUSTMENTS TO THE EXERCISE PRICE AND NUMBER OF OUTSTANDING WARRANTS 2019/2024 OF M N C WIRELESS BERHAD ("MNC" OR THE "COMPANY") ("WARRANTS B") AS SPECIFIED IN THE DEED POLL DATED 18 JULY 2019 ("DEED POLL B"), PURSUANT TO THE CONSOLIDATION OF EVERY 10 EXISTING ORDINARY SHARES IN MNC ("MNC SHARES" OR "SHARES") INTO 1 MNC SHARE ("CONSOLIDATED SHARE") HELD AT 5.00 P.M. ON 8 NOVEMBER 2022 ("SHARE CONSOLIDATION") |
| EX-date | 07 Nov 2022 |
| Entitlement date | 08 Nov 2022 |
| Entitlement time | 5:00 PM |
| Financial Year End | 30 Apr 2023 |
| 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 | 08 Nov 2022 |
| 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 |
SECURITIES SERVICES (HOLDINGS) SDN BHD Level 7, Menara Milenium Jalan Damanlela, Pusat Bandar Damansara Damansara Heights 50490 Kuala Lumpur Wilayah Persekutuan Malaysia Tel:0320849000 Fax:0320949940 |
| 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 ("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 29,959,264 Warrants B will be adjusted into a maximum number of 2,995,926 Consolidated Warrants B to be issued and allotted to the Entitled Warrant B Holders. The actual number of Consolidated Warrants B to be issued and allotted would depend on the number of outstanding Warrants B which have yet to be exercised into new MNC Shares as at the Entitlement Date.
Further, the existing exercise price of Warrants B of RM0.06 each will be revised to RM0.60 each pursuant to the Adjustments.
The Consolidated Warrants B will be listed and quoted on the ACE Market of Bursa Malaysia Securities Berhad ("Bursa Securities") on 9 November 2022, being the next market day following the Entitlement Date.
The notice of allotment for the Consolidated Warrants B will be despatched to the Entitled Warrant B Holders not later than 4 market days after the date of listing and quotation of the Consolidated Warrants B on 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 Warrant B holders are strongly advised to trade cautiously to prevent overselling of their position in respect of the Warrants B held.
This announcement is dated 21 October 2022. |
Announcement Info
| Company Name | M N C WIRELESS BERHAD |
| Stock Name | MNC-WB |
| Date Announced | 21 Oct 2022 |
| Category | Entitlement(Notice of Book Closure) |
| Reference Number | ENT-18102022-00010 |