Stock Name: GLOMAC-WA
Amount/Ratio: 1 : 2
Announcement Date: 29/09/2011
Ex Date: 11/10/2011
Entitlement date: 13/10/2011
Entitlement time: 05:00:00 PM
Entitlement subject: Others
Entitlement description: ADJUSTMENTS MADE TO THE EXERCISE PRICE AND NUMBER OF OUTSTANDING 2007/2012 WARRANTS ("WARRANTS") CONSTITUTED BY THE DEED POLL DATED 5 SEPTEMBER 2007 ("DEED POLL") IN ACCORDANCE WITH THE PROVISIONS OF THE DEED POLL, AS A CONSEQUENCE OF THE SUBDIVISION OF EVERY ONE (1) ORDINARY SHARE OF RM1.00 EACH IN GLOMAC BERHAD ("GLOMAC") INTO TWO (2) ORDINARY SHARES OF RM0.50 EACH IN GLOMAC ("SUBDIVISION") ("ADJUSTMENTS")
Period of interest payment: to
Share transfer book & register of members will be: 13/10/2011 to 13/10/2011 closed from (both dates inclusive) for the purpose of determining the entitlements
Registrar's name ,address, telephone no: Shareworks Sdn Bhd
10-1, Jalan Sri Hartamas 8
50480 Kuala Lumpur
Tel : 03-6201 1120
Payment date: 13/10/2011
a. Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers: 13/10/2011
Entitlement indicator: Ratio
Ratio: 1 : 2
Remarks: Following the Subdivision, the exercise price of the Warrants will be adjusted in accordance with the provisions of the Deed Poll. Any adjustments to the exercise price of the Warrants shall be rounded up to the nearest one (1) sen, pursuant to the Deed Poll.
In addition, up to 67,207,446 new Warrants pursuant to the Adjustments ("Additional Warrants") will be allotted and issued on 14 October 2011 on the basis of one (1) Additional Warrant for every one (1) existing Warrant held by the holders of the Warrant ("Warrant Holders"), whose names appear in the Record of Depositors at 5.00 p.m. on 13 October 2011, being the entitlement date of the Subdivision ("Entitlement Date"). Any adjustment arising from the allotment of the Additional Warrants to each Warrant Holders will be rounded down to the nearest whole Warrant.
Save for the abovementioned adjustments to the exercise price of the Warrants and the Additional Warrants, the rights and obligations of the Warrant Holders will remain unchanged.
Warrant Holders who have exercised their subscription rights by lodging the duly completed warrants subscription form together with the subscription monies with Glomac's share registrar prior to the Entitlement Date will not be entitled to the Adjustments.
For illustrative purposes, Warrant Holders holding 100 Warrants will have their exercise price of the Warrants adjusted from RM1.10 per Warrant to RM0.55 per Warrant and the number of Warrants adjusted to 200 Warrants from the existing 100 Warrants held.
The date of listing of and quotation for up to 67,207,446 Additional Warrants shall be on 14 October 2011, being the next market day immediately after the Entitlement Date. The notices to Warrant Holders setting out the details of the Adjustments and the notices of allotment of the Additional Warrants will be despatched to all Warrant Holders in due course.
This announcement is dated 29 September 2011.