PA - Notice of Book Closure

SHARE CONSOLIDATION OF EVERY 2 EXISTING ORDINARY SHARES IN P.A. RESOURCES BERHAD ("PARB") ("PARB SHARE(S)") INTO 1 PARB SHARE ("CONSOLIDATED SHARE(S)") ("SHARE CONSOLIDATION")
 

Kindly be advised of the following : 

1)  The above Company's securities will be traded and quoted "Ex - Consolidation” as from: 8 Feb 2021
2)  The last date of lodgment : 9 Feb 2021

Remarks 1:

Participating Organisations are to take note of the following Share Consolidation exercise by P.A. RESOURCES BERHAD.

The Share Consolidation comprises the following:-

SHARE CONSOLIDATION OF EVERY 2 EXISTING ORDINARY SHARES IN P.A. RESOURCES BERHAD ("PARB") ("PARB SHARE(S)") INTO 1 PARB SHARE ("CONSOLIDATED SHARE(S)") ("SHARE CONSOLIDATION")

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

(a) on or after the Ex-date on 8 February 2021, trading of PA shares will be based on the newly adjusted share after the Share Consolidation of PA shares,

(b) on the basis of settlement taking place after 9 February 2021 with consolidated PA shares, any entitled shareholder who owns PA shares as at Ex-date may sell only up to the maximum PA shares he expects to receive after the Share Consolidation, i.e. the reduced amount, on or after the Ex-date 8 February 2021.

With the adjustments pursuant to the Share Consolidation effected on PA shareholders’ CDS account at the end of the Entitlement Date (“Books Closure Date”), an entitled PA shareholder may use the following basis to estimate the maximum number of PA shares that he may sell from the Ex-date until the Book Closing Date which is from 8 February 2021 until 9 February 2021.

Number of PA shares​ that may be                                =              Number of shares held / 2

sold from 8 February 2021 until 9 February 2021                     (All fractional shares computed should be disregarded)

Illustration:

For example, if Mr X owns or purchases 1000 PA shares on cum basis on 5 February 2021, his CDS account would still show 1000 PA shares until 9 February 2021. However, as a result of the above Share Consolidation exercise, Mr X’s 1000 PA shares in his CDS account will be adjusted to 500 PA shares on the night of 9 February 2021 which is the Book Closing Date. Therefore, Mr X may, if he so wishes, sells only up to 500 PA shares on or after the Ex-date i.e. from 8 February 2021 onwards.

Participating Organisations are hereby requested to caution all dealers and remisiers that, during the period from 8 February 2021 until 9 February 2021, they are only entitled to sell the maximum of 1/2 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.

Remarks 2:

The actual number of Consolidated Shares to be consolidated would depend on the issued share capital of PARB on the Entitlement Date. Fractional entitlements arising from the Share Consolidation, 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.

The date of the listing and quotation for the Consolidated Shares on the Main Market of Bursa Malaysia Securities Berhad ("Bursa Securities") shall be on 10 February 2021, being the next market date immediately after the Entitlement Date.

Holders of outstanding warrants 2017/2022 ("Warrant(s) B") who wish to be entitled to the Share Consolidation should exercise their Warrants B by lodging their duly completed Warrants B exercise forms together with the relevant exercise subscription monies with the Share Registrar, Tricor Investor & Issuing House Services Sdn Bhd, on or before 5.00p.m. on 25 January 2021. This is to enable their names to appear on the Company's Record of Depositors by 5.00p.m. on 9 February 2021.

The notices of allotment of the Consolidated Shares will be issued and despatched to all the entitled shareholders of PARB within 4 market days after the date of the listing and quotation for the Consolidated Shares on the Main Market of Bursa Securities.