Company: TIMECOM-CC:CW TIME DOTCOM (AM)
Stock Name: TIMECOM-CC
Amount/Ratio: 0 : 0
Announcement Date: 03/05/2012
Ex Date: 11/05/2012
Detail:
EX-date: 11/05/2012
Entitlement date: 15/05/2012
Entitlement time: 05:00:00 PM
Entitlement subject: Others
Entitlement description: ADJUSTMENT TO THE TERMS AND CONDITIONS OF THE EUROPEAN STYLE CASH-SETTLED CALL WARRANTS OVER ORDINARY SHARES OF TIME DOTCOM BERHAD ("TIMECOM") ("TIMECOM SHARES") ("TIMECOM-CC") PURSUANT TO FOLLOWING:
(I) CAPITAL REPAYMENT OF RM50,615,500 REPRESENTING RM0.02 PER EXISTING TIMECOM SHARE TO THE ENTITLED SHAREHOLDERS OF TIMECOM PURSUANT TO SECTIONS 60 AND 64 OF THE COMPANIES ACT,1965 ("CAPITAL REPAYMENT")
(II) CAPITAL RESTRUCTURING:
(a) CAPITAL REDUCTION OF THE EXISTING ISSUED AND PAID-UP SHARE CAPITAL OF TIMECOM VIA THE CANCELLATION OF RM0.90 OF THE PAR VALUE OF EACH TIMECOM SHARE PURSUANT TO SECTION 64 OF THE COMPANIES ACT, 1965 ("CAPITAL REDUCTION");
(b) SET-OFF OF TIMECOM'S SHARE PREMIUM ACCOUNT AGAINST THE ACCUMULATED LOSSES OF TIMECOM; AND
(c) SHARE CONSOLIDATION OF 2,530,775,000 TIMECOM SHARES OF PAR VALUE OF RM0.10 EACH (AFTER THE CAPITAL REDUCTION) INTO 506,155,000 TIMECOM SHARES WITH A PAR VALUE OF RM0.50 EACH IN TIMECOM ON THE BASIS OF FIVE (5) TIMECOM SHARES OF PAR VALUE OF RM0.10 EACH INTO ONE (1) TIMECOM SHARE OF RM0.50 EACH ("CONSOLIDATION")
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 entitlements
Registrar's name ,address, telephone no: Tricor Investor Services Sdn Bhd
Level 17, The Gardens North Tower
Mid Valley City
Lingkaran Syed Putra
59200 Kuala Lumpur
Malaysia
Tel : 03-2264 3883
a. Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers: 15/05/2012
Entitlement indicator: Ratio
Ratio: 0 : 0
Remarks: Capital Repayment
Adjustment Factor
Adjustment Factor ("AF") = (P - CR) / P
Where,
P = The closing price of TIMECOM Share immediately on Bursa Malaysia Securities Berhad preceding the Ex-Date (i.e. the "Last Cum Date")
CR = RM0.02, the capital repayment per one (1) TIMECOM Share held
Exercise Price
Adjusted Exercise Price = X x AF
Where,
X = Existing Exercise Price insofar as it relates to TIMECOM-CC immediately prior to the Capital Repayment. For avoidance of doubt, the existing Exercise Price for TIMECOM-CC is RM0.78.
Exercise Ratio
No adjustment will be made to the Exercise Ratio of TIMECOM-CC
Consolidation
Exercise Price
The Exercise Price for the TIMECOM-CC will be adjusted as determined by the following formula:-
Adjusted Exercise Price = X / N
where,
N = 0.2, being the number of new TIMECOM Shares per existing TIMECOM Share
X = Exercise Price insofar as it relates to TIMECOM-CC after the implementation of the Capital Repayment and immediately prior to the Consolidation
Exercise Ratio
The Exercise Ratio for the TIMECOM-CC will be adjusted as determined by the following formula:-
Adjusted Exercise Ratio = E / N
where,
N = 0.2, being the number of new TIMECOM Shares per existing TIMECOM Share
E = Existing Exercise Ratio insofar as it relates to TIMECOM-CC immediately prior to the Consolidation. For avoidance of doubt, the existing Exercise Ratio for TIMECOM-CC is 1 TIMECOM-CC to 1 TIMECOM Share.
This announcement is dated 3 May 2012.
Stock Name: TIMECOM-CC
Amount/Ratio: 0 : 0
Announcement Date: 03/05/2012
Ex Date: 11/05/2012
Detail:
EX-date: 11/05/2012
Entitlement date: 15/05/2012
Entitlement time: 05:00:00 PM
Entitlement subject: Others
Entitlement description: ADJUSTMENT TO THE TERMS AND CONDITIONS OF THE EUROPEAN STYLE CASH-SETTLED CALL WARRANTS OVER ORDINARY SHARES OF TIME DOTCOM BERHAD ("TIMECOM") ("TIMECOM SHARES") ("TIMECOM-CC") PURSUANT TO FOLLOWING:
(I) CAPITAL REPAYMENT OF RM50,615,500 REPRESENTING RM0.02 PER EXISTING TIMECOM SHARE TO THE ENTITLED SHAREHOLDERS OF TIMECOM PURSUANT TO SECTIONS 60 AND 64 OF THE COMPANIES ACT,1965 ("CAPITAL REPAYMENT")
(II) CAPITAL RESTRUCTURING:
(a) CAPITAL REDUCTION OF THE EXISTING ISSUED AND PAID-UP SHARE CAPITAL OF TIMECOM VIA THE CANCELLATION OF RM0.90 OF THE PAR VALUE OF EACH TIMECOM SHARE PURSUANT TO SECTION 64 OF THE COMPANIES ACT, 1965 ("CAPITAL REDUCTION");
(b) SET-OFF OF TIMECOM'S SHARE PREMIUM ACCOUNT AGAINST THE ACCUMULATED LOSSES OF TIMECOM; AND
(c) SHARE CONSOLIDATION OF 2,530,775,000 TIMECOM SHARES OF PAR VALUE OF RM0.10 EACH (AFTER THE CAPITAL REDUCTION) INTO 506,155,000 TIMECOM SHARES WITH A PAR VALUE OF RM0.50 EACH IN TIMECOM ON THE BASIS OF FIVE (5) TIMECOM SHARES OF PAR VALUE OF RM0.10 EACH INTO ONE (1) TIMECOM SHARE OF RM0.50 EACH ("CONSOLIDATION")
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 entitlements
Registrar's name ,address, telephone no: Tricor Investor Services Sdn Bhd
Level 17, The Gardens North Tower
Mid Valley City
Lingkaran Syed Putra
59200 Kuala Lumpur
Malaysia
Tel : 03-2264 3883
a. Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers: 15/05/2012
Entitlement indicator: Ratio
Ratio: 0 : 0
Remarks: Capital Repayment
Adjustment Factor
Adjustment Factor ("AF") = (P - CR) / P
Where,
P = The closing price of TIMECOM Share immediately on Bursa Malaysia Securities Berhad preceding the Ex-Date (i.e. the "Last Cum Date")
CR = RM0.02, the capital repayment per one (1) TIMECOM Share held
Exercise Price
Adjusted Exercise Price = X x AF
Where,
X = Existing Exercise Price insofar as it relates to TIMECOM-CC immediately prior to the Capital Repayment. For avoidance of doubt, the existing Exercise Price for TIMECOM-CC is RM0.78.
Exercise Ratio
No adjustment will be made to the Exercise Ratio of TIMECOM-CC
Consolidation
Exercise Price
The Exercise Price for the TIMECOM-CC will be adjusted as determined by the following formula:-
Adjusted Exercise Price = X / N
where,
N = 0.2, being the number of new TIMECOM Shares per existing TIMECOM Share
X = Exercise Price insofar as it relates to TIMECOM-CC after the implementation of the Capital Repayment and immediately prior to the Consolidation
Exercise Ratio
The Exercise Ratio for the TIMECOM-CC will be adjusted as determined by the following formula:-
Adjusted Exercise Ratio = E / N
where,
N = 0.2, being the number of new TIMECOM Shares per existing TIMECOM Share
E = Existing Exercise Ratio insofar as it relates to TIMECOM-CC immediately prior to the Consolidation. For avoidance of doubt, the existing Exercise Ratio for TIMECOM-CC is 1 TIMECOM-CC to 1 TIMECOM Share.
This announcement is dated 3 May 2012.
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