SCOMIES - Notice of Book Closure

Consolidation of every 5 existing ordinary shares in Scomi Energy Services Bhd ("SESB") into 1 ordinary share ("Share Consolidation")
 

Kindly be advised of the following : 

1)  The above Company's securities will be traded and quoted "Ex - Consolidation” as from: 27 Feb 2020
2)  The last date of lodgment : 28 Feb 2020
 

Remarks: 

Participating Organisations are to take note of the following Share Consolidation exercise by SCOMI ENERGY SERVICES BHD.

The Share Consolidation comprises the following:-

CONSOLIDATION OF EVERY 5 EXISTING ORDINARY SHARES IN SCOMI ENERGY SERVICES BHD ("SCOMIES") INTO 1 ORDINARY SHARES ("SHARE CONSOLIDATION").

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

a) on or after the Ex-date on 27 February 2020, trading of SCOMIES shares will be based on the newly adjusted share after the Share Consolidation of SCOMIES shares,

b) on the basis of settlement taking place after 28 February 2020 with consolidated SCOMIES shares, any entitled shareholder who owns SCOMIES shares as at Ex-date may sell only up to the maximum SCOMIES shares he expects to receive after the Share Consolidation, i.e. the reduced amount, on or after the Ex-date 27 February 2020.

With the adjustments pursuant to the Share Consolidation effected on SCOMIES shareholders’ CDS account at the end of the Entitlement Date (“Books Closure Date”), an entitled SCOMIES shareholder may use the following basis to estimate the maximum number of SCOMIES shares that he may sell from the Ex-date until the Book Closing Date which is from 27 February 2020 until 28 February 2020.

Number of  SCOMIES shares that may be                        =                                Number of shares held x 0.20  

sold on 27 February 2020 until  28 February 2020           (All fractional shares computed should be disregarded)

Illustration:

For example, if Mr X owns or purchases 1000 SCOMIES shares on cum basis on 26 February 2020, his CDS account would still show 1000 SCOMIES shares until 28 February 2020. However, as a results of the above Share Consolidation exercise, Mr X’s 1000 SCOMIES shares in his CDS account will be adjusted to 200 SCOMIES shares on the night of 28 February 2020 which is the Book Closing Date. Therefore, Mr X may, if he so wishes, sells only up to 200 SCOMIES shares on or after the Ex-date i.e. from 26 February 2020  onwards.

Participating Organisations are hereby requested to caution all dealers and remisiers that, during the period from 27 February 2020 until 28 February 2020, they are only entitled to sell the maximum of 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.