Company: TIMECOM-CE:CW TIME DOTCOM(OSK)
Stock Name: TIMECOM-CE
Amount/Ratio: 0 : 0
Announcement Date: 02/05/2012
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: Adjustments to the terms and conditions of the non-collateralised cash settled European-style call warrants over ordinary shares of TIME dotCOM Berhad ("TIMECOM") ("TIMECOM-CE") pursuant to following:
(a) 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")
(b) capital restructuring comprising:
(i) 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;
(ii) set-off of TIMECOM's share premium account against the accumulated losses of TIMECOM; and
(iii) share consolidation of 2,530,775,000 TIMECOM Shares (after the Capital Reduction) into 506,155,000 TIMECOM Shares, on the basis of five (5) ordinary shares of RM0.10 each in TIMECOM into one (1) ordinary share of RM0.50 each in TIMECOM ("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: Symphony Share Registrars Sdn Bhd
Level 6, Symphony House
Block D13, Pusat Dagangan Dana 1
Jalan PJU 1A/46
47300 Petaling Jaya, Selangor
Tel. no.: (03) 7481 8000
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: In accordance with Condition B3.1 -Adjustment of Entitlement and Exercise Price to the Second Schedule of the Deed Poll dated 16 December 2011 ("Deed Poll"), the Exercise Price and Entitlement of the TIMECOM-CE will be adjusted for the Capital Repayment and Consolidation in accordance with the following formula:
Capital Repayment
1. Adjustment Factor = (P - X) / P
Where
P: Closing price of TIMECOM Share on Bursa Malaysia Securities Berhad immediately preceding the Ex-Date (i.e. the "Last Cum Date")
X : RM 0.02, the capital repayment per TIMECOM Share held
2. Adjusted Exercise Price = K x Adjustment Factor
Where
K: RM0.68, the existing Exercise Price immediately prior to the capital repayment of TIMECOM Shares.
No adjustment will be made to the Entitlement of the TIMECOM-CE.
Consolidation
1. Adjusted Entitlement = (1 - N) x E
2. Adjusted Exercise Price = [ 1/( 1 - N ) ] x K
Where
E: 1, being the existing Entitlement immediately prior to the Consolidation (equivalent to entitlement of 1 TIMECOM-CE per TIMECOM Share)
N: 0.80, being the number of TIMECOM Share reduced for each TIMECOM Share held prior to the Consolidation
K: The adjusted Exercise Price of TIMECOM-CE after the implementation of the Capital Repayment and immediately prior to the Consolidation
The actual adjustments to the Exercise Price and Entitlement of the TIMECOM-CE shall take place on 11 May 2012 ("Ex-Date"), which is the first day of dealings in the TIMECOM on an ex-adjustment basis.
This announcement is dated 2 May 2012.
Stock Name: TIMECOM-CE
Amount/Ratio: 0 : 0
Announcement Date: 02/05/2012
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: Adjustments to the terms and conditions of the non-collateralised cash settled European-style call warrants over ordinary shares of TIME dotCOM Berhad ("TIMECOM") ("TIMECOM-CE") pursuant to following:
(a) 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")
(b) capital restructuring comprising:
(i) 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;
(ii) set-off of TIMECOM's share premium account against the accumulated losses of TIMECOM; and
(iii) share consolidation of 2,530,775,000 TIMECOM Shares (after the Capital Reduction) into 506,155,000 TIMECOM Shares, on the basis of five (5) ordinary shares of RM0.10 each in TIMECOM into one (1) ordinary share of RM0.50 each in TIMECOM ("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: Symphony Share Registrars Sdn Bhd
Level 6, Symphony House
Block D13, Pusat Dagangan Dana 1
Jalan PJU 1A/46
47300 Petaling Jaya, Selangor
Tel. no.: (03) 7481 8000
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: In accordance with Condition B3.1 -Adjustment of Entitlement and Exercise Price to the Second Schedule of the Deed Poll dated 16 December 2011 ("Deed Poll"), the Exercise Price and Entitlement of the TIMECOM-CE will be adjusted for the Capital Repayment and Consolidation in accordance with the following formula:
Capital Repayment
1. Adjustment Factor = (P - X) / P
Where
P: Closing price of TIMECOM Share on Bursa Malaysia Securities Berhad immediately preceding the Ex-Date (i.e. the "Last Cum Date")
X : RM 0.02, the capital repayment per TIMECOM Share held
2. Adjusted Exercise Price = K x Adjustment Factor
Where
K: RM0.68, the existing Exercise Price immediately prior to the capital repayment of TIMECOM Shares.
No adjustment will be made to the Entitlement of the TIMECOM-CE.
Consolidation
1. Adjusted Entitlement = (1 - N) x E
2. Adjusted Exercise Price = [ 1/( 1 - N ) ] x K
Where
E: 1, being the existing Entitlement immediately prior to the Consolidation (equivalent to entitlement of 1 TIMECOM-CE per TIMECOM Share)
N: 0.80, being the number of TIMECOM Share reduced for each TIMECOM Share held prior to the Consolidation
K: The adjusted Exercise Price of TIMECOM-CE after the implementation of the Capital Repayment and immediately prior to the Consolidation
The actual adjustments to the Exercise Price and Entitlement of the TIMECOM-CE shall take place on 11 May 2012 ("Ex-Date"), which is the first day of dealings in the TIMECOM on an ex-adjustment basis.
This announcement is dated 2 May 2012.
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