SANICHI-WE
Share Consolidation
| SANICHI TECHNOLOGY BERHAD |
| Entitlement subject | Share Consolidation |
| Entitlement description | ADJUSTMENTS TO THE EXERCISE PRICE AND NUMBER OF OUTSTANDING WARRANTS 2018/2021 OF SANICHI TECHNOLOGY BERHAD ("SANICHI" OR THE "COMPANY") ("WARRANTS E") IN ACCORDANCE WITH THE PROVISIONS OF THE DEED POLL DATED 2 NOVEMBER 2018 CONSTITUTING THE WARRANTS E ("DEED POLL E") PURSUANT TO THE CONSOLIDATION OF EVERY 10 EXISTING ORDINARY SHARES IN SANICHI ("SANICHI SHARES" OR "SHARES") HELD AT 5.00 P.M. ON 5 APRIL 2021 ("ENTITLEMENT DATE") INTO 1 SANICHI SHARE ("CONSOLIDATED SHARE") ("SHARE CONSOLIDATION") ("ADJUSTMENTS") |
| Ex-Date | 02 Apr 2021 |
| Entitlement date | 05 Apr 2021 |
| Entitlement time | 5:00 PM |
| Financial Year End | 31 Dec 2021 |
| Share transfer book & register of members will be | to closed from (both dates inclusive) for the purpose of determining the entitlement |
| a.Securities transferred into the Depositor's Securities Account before 4:30 pm in respect of transfers | 05 Apr 2021 |
| b.Securities deposited into the Depositor's Securities Account before 12:30 pm in respect of securities exempted from mandatory deposit | |
| c. Securities bought on the Exchange on a cum entitlement basis according to the Rules of the Exchange. | |
| Number of new
shares/securities issued (units) (If applicable) |
|
| Entitlement indicator | Ratio |
| Par Value (if applicable) | |
Entitlement Details
| Company Name | Ratio (New : Existing) |
Available/Listing Date | Fractional Entitlement |
| SANICHI TECHNOLOGY BERHARD - WARRANTS E 2018/2021 | 1.0000 : 10.0000 | 06 Apr 2021 | Round Down / Fraction Disregard |
| Registrar or Service Provider name, address, telephone no |
SHAREWORKS SDN BHD No. 2-1, Jalan Sri Hartamas 8 Sri Hartamas 50480 Kuala Lumpur Wilayah Persekutuan Malaysia Tel:0362011120 Fax:0362013121 |
| Remarks : |
Pursuant to the Share Consolidation, the exercise price and number of outstanding Warrants E which are not exercised prior to the Entitlement Date will be adjusted in accordance with the provisions of the Deed Poll E.
The Warrants E will be consolidated on the basis of every 10 Warrants E held by the entitled holders of Warrants E (whose names appear in the Record of Depositors for the Warrants E at 5.00 p.m. on the Entitlement Date) into 1 Warrant E ("Consolidated Warrant E").
Fractional entitlements arising from the Adjustments, if any, shall be disregarded and/or 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 interests of the Company.
Pursuant to the Adjustments, the existing number of Warrants E will be adjusted into a maximum number of 36,932,924 Consolidated Warrants E to be issued and allotted to the entitled holders. The actual number of Consolidated Warrants E to be issued and allotted would depend on the number of outstanding Warrants E which have yet to be exercised into new Shares as at the Entitlement Date.
Further, the existing exercise price of Warrants E of RM0.10 each will be revised to RM1.00 each pursuant to the Adjustments.
The Consolidated Warrants E will be listed and quoted on the ACE Market of Bursa Malaysia Securities Berhad ("Bursa Securities") on 6 April 2021, being the next market day following the Entitlement Date.
The notices of allotment for the Consolidated Warrants E will be despatched to the entitled holders not later than 4 market days after the date of listing and quotation of the Consolidated Warrants E on Bursa Securities. The notice to the holders of Warrants E (setting out the details of the Adjustments) will be despatched in due course.
The Share Consolidation will result in a reduction in the number of Warrants E available in the market and the trading price of the Warrants E will be adjusted accordingly in proportion to the basis of the Share Consolidation. The holders of Warrants E are strongly advised to trade cautiously to prevent overselling of their position in respect of the Warrants E held.
This announcement is dated 22 March 2021. |
Announcement Info
| Company Name | SANICHI TECHNOLOGY BERHAD |
| Stock Name | SANICHI-WE |
| Date Announced | 22 Mar 2021 |
| Category | Entitlement(Notice of Book Closure) |
| Reference Number | ENT-22032021-00004 |
| Corporate Action ID | MY210322SPLR0001 |