HONGSENG-PA - Notice of Book Closure

ADJUSTMENTS TO THE CONVERSION PRICE OF IRREDEEMABLE CONVERTIBLE PREFERENCE SHARES IN HONG SENG CONSOLIDATED BERHAD ("HONG SENG" OR "COMPANY") ("ICPS"), CASH PAYMENT FOR CONVERSION OF ICPS AND NUMBER OF OUTSTANDING ICPS PURSUANT TO THE BONUS ISSUE OF UP TO 3,520,465,659 NEW ORDINARY SHARES IN HONG SENG ("HONG SENG SHARES") ("BONUS SHARES") ON THE BASIS OF 1 BONUS SHARE FOR EVERY 1 EXISTING HONG SENG SHARE HELD AS AT 5.00 P.M. ON 27 JUNE 2022 ("ENTITLEMENT DATE") ("BONUS ISSUE")
 

Kindly be advised of the following : 

1)  The above Company's securities will be traded and quoted "Ex - Adjustment” as from: 24 Jun 2022
2)  The last date of lodgment : 27 Jun 2022
 

Remarks 1 :

"Bursa Malaysia Securities Bhd would like to clarify that on the basis of settlement taking place after 27 June 2022  with adjustment to the number of outstanding HONGSENG-PA shares, any shareholder who is entitled to receive HONGSENG-PA additional shares may now sell any or all of his HONGSENG-PA shares arising from adjustment consequent to the bonus issue beginning the Ex-Date (24 June 2022 ). 

For example, if Mr X purchases 100 HONGSENG-PA shares on cum basis on 23 June 2022, Mr X should receive 100 shares on 27 June 2022 . Consequent to a bonus issue, an additional of 100 HONGSENG-PA shares will be credited into Mr X's CDS account on the night of 27 June 2022  being the Book Closing Date. Therefore, Mr X can sell the a total of 200 HONGSENG-PA shares on or after the Ex-Date ie from 24 June 2022  onwards." 

Remarks 2:
Following the Bonus Issue, the conversion price of ICPS, cash payment for conversion of ICPS and number of outstanding ICPS (which are not converted into new Hong Seng Shares prior to the Entitlement Date) shall be adjusted in accordance with the provisions of the Company's Constitution ("Adjustments").

Additional ICPS arising from the Adjustments ("Additional ICPS") will be allotted and issued to the entitled holders of ICPS of the Company, whose names appear in the Record of Depositors at 5.00 p.m. on the Entitlement Date ("Entitled ICPS Holders"). 

The actual number of Additional ICPS to be issued and allotted would depend on the number of outstanding ICPS which are not converted into new Hong Seng Shares prior to the Entitlement Date.

The Additional ICPS will be listed and quoted simultaneously with the Bonus Shares on the Main Market of Bursa Malaysia Securities Berhad on 28 June 2022 ("Listing Date"), being the next market day following the Entitlement Date. 

The notice of allotment for the Additional ICPS will be issued and despatched to the Entitled ICPS Holders at the addresses set out in the Record of Depositors of the Company as at the Entitlement Date within 4 market days after the Listing Date. The notice setting out the details of the Adjustments will be issued and despatched to the Entitled ICPS Holders in due course.

Holders of the ICPS who wish to be entitled to the Bonus Issue as the Company's shareholders shall exercise their rights to subscribe for new Hong Seng Shares by lodging their duly completed conversion forms together with the relevant subscription monies with Hong Seng's Share Registrar (at the address stated above) on or before 5.00 p.m. on Thursday, 16 June 2022 such that their names will appear in the Record of Depositors of the Company at 5.00 p.m. on the Entitlement Date.