HUBLINE-WA - Notice of Book Closure

Adjustment to the number and exercise price of outstanding warrants 2009/2019 ("Warrants A") as a consequence of the consolidation of every twenty (20) ordinary shares of RM0.005 each in Hubline Berhad ("Hubline") into one (1) ordinary share of RM0.10 each ("Hubline Shares") at 5.00pm on 15 February 2017 ("Share Consolidation").

Kindly be advised of the following : 

1)  The above Company's securities will be traded and quoted "Ex - Adjustment” as from: 13 Feb 2017
2)  The last date of lodgment : 15 Feb 2017

Remarks 1: 

Pursuant to the Share Consolidation, the number and exercise price of outstanding Warrants A which are not exercised prior to 15 February 2017 will be adjusted in accordance with the provisions of the Warrants A Deed Poll. The Warrants A will be consolidated on the basis of every twenty (20) Warrants A held by the entitled warrant holders of Warrants A of the Company (whose names appear in the Record of Depositors at 5.00pm on 15 February 2017) into one (1) Warrant A ("Consolidated Warrants A"). The fractional entitlements of the Consolidated Warrants A arising from the Adjustments, if any, will be disregarded and/or shall be dealt with by the Board of Directors of the Company ("Board") in such manner as the Board in its absolute discretion deems fit and expedient or in the best interest of the Company. The actual number of Consolidated Warrants A to be issued and allotted would depend on the number of outstanding Warrants A which have yet to be exercised into new Hubline Shares as at 15 February 2017. Pursuant to the Adjustments, the existing exercise price of Warrants A of RM0.16 each will be revised to RM3.20 each. The Consolidated Warrants A will be listed and quoted on the Main Market of Bursa Malaysia Securities Berhad on 16 February 2017, being the next market day following the entitlement date. The notice of allotment for the Consolidated Warrants A will be despatched to the entitled holders within four (4) market days after the listing and quotation of the Consolidated Warrants A. The notice to the holders of Warrants A (setting out the details of the Adjustments) will be despatched in due course. 

Remarks 2: 

Participating Organisations are to take note of the following adjustment on HUBLINE BERHAD-WARRANTS A

The entitlement comprises the following:-

ADJUSTMENT TO THE NUMBER AND EXERCISE PRICE OF OUTSTANDING WARRANTS 2009/2019 ("WARRANTS A") AS A CONSEQUENCE OF THE CONSOLIDATION OF EVERY TWENTY (20) ORDINARY SHARES OF RM0.005 EACH IN HUBLINE BERHAD ("HUBLINE") INTO ONE (1) ORDINARY SHARE OF RM0.10 EACH ("HUBLINE SHARES") AT 5.00PM ON 15 FEBRUARY 2017 ("SHARE CONSOLIDATION").

In relation to the warrants adjustment on HUBLINE-WA as a SPEEDS Corporate Exercise, Bursa Malaysia Securities Berhad would like to highlight that:

a) on or after the Ex-date on 13 February 2017, trading of HUBLINE-WA will be based on the newly adjusted warrants arising from the Warrants Adjustment, 

b) on the basis of settlement taking place after 15 February 2017 with adjusted  HUBLINE-WA, any entitled warrants holder who owns HUBLINE-WA as at Ex-date may sell only up to the maximum HUBLINE-WA he expects to receive after the adjustment, i.e. the reduced amount, on or after the Ex-date 13 February 2017.

With the warrants adjustment pursuant to the Share Consolidation effected on HUBLINE-WA holders’ CDS account at the end of the Entitlement Date (“Books Closure Date”), an entitled HUBLINE-WA holder may use the following basis to estimate the maximum number of HUBLINE-WA that he may sell from the Ex-date until the Book Closing Date which is from 13 February 2017 until 15 February 2017.

Number of HUBLINE-WA that may be sold   on       =         Number of warrants held x 0.05 

13 February 2017 until 15 February 2017                         (All fractional warrants computed should be disregarded)  

Illustration:

For example, if Mr X owns or purchases 1000 HUBLINE-WA on cum basis on 10 February 2017, his CDS account would still show 1000 HUBLINE-WA until 15 February 2017. However, as a result of the above warrants adjustment, Mr X’s 1000 HUBLINE-WA in his CDS account will be adjusted to 50 HUBLINE-WA on the night of 15 February 2017 which is the Book Closing Date. Therefore Mr X may, if he so wishes, sells only up to 50 HUBLINE-WA on or after the Ex-date i.e. from 13 February 2017 onwards. 

Participating Organisations are hereby requested to caution all dealers and remisiers that, during the period from 13 February 2017 until 15 February 2017, they are only entitled to sell the maximum of 5% 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.