ICON

0.785

+0.05 (+6.8%)

ICON - Notice of Book Closure

ICON OFFSHORE BERHAD

1)   Share consolidation of every 50 existing ordinary shares in Icon Offshore Berhad ("Icon") ("Existing Shares") into 1 consolidated share in Icon ("Consolidated Share(s)") as at 5.00 p.m. on Thursday, 23 January 2020 ("Entitlement Date") ("Share Consolidation")
 

2)  Renounceable rights issue of up to 2,354,370,200 new ordinary shares in Icon Offshore Berhad ("Icon") ("Rights Shares") on the basis of 100 Rights Shares for every 1 ordinary share in Icon held after the share consolidation, together with up to 588,592,550 free detachable warrants ("Rights Warrants") on the basis of 1 Rights Warrant for every 4 Rights Shares subscribed for, as at 5.00 p.m. on Thursday, 23 January 2020 at an issue price of RM0.105 per Rights Share ("Rights Issue with Warrants")

 

Kindly be advised of the following : 

1)  The above Company's securities will be traded and quoted "Ex - All” as from: 22 Jan 2020
2)  The last date of lodgment : 23 Jan 2020

3)    Retention Money: Where securities are not delivered in time for registration by the seller, then the brokers concerned:-
       a)    Selling Broker to deduct<100/101>, of Selling Price against the Selling Client
       b)    Buying Broker to deduct <10%>, of Purchase Price against the Buying Client
       c)    Between Broker and Broker, the deduction of <100/101>, of the Transacted Price is applicable.

 

Remarks 1 ):-Participating Organisations are to take note of the following Share Consolidation exercise by ICON OFFSHORE BERHAD.

 

The Share Consolidation comprises the following:-

SHARE CONSOLIDATION OF EVERY 50 EXISTING ORDINARY SHARES IN ICON OFFSHORE BERHAD (“ICON”) (“EXISTING SHARES”) INTO 1 CONSOLIDATED SHARE IN ICON (“CONSOLIDATED SHARES(S)”) HELD AT  5.00 P.M ON THURSDAY, 23 JANUARY 2020 (“ENTITLEMENT DATE”) (“ SHARE CONSOLIDATION”).

 

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

 

(a) on or after the Ex-date on 22 January 2020, trading of ICON shares will be based on the newly adjusted share after the Share Consolidation of ICON shares,

 

(b) on the basis of settlement taking place after 23 January 2020 with consolidated ICON shares, any entitled shareholder who owns ICON shares as at Ex-date may sell only up to the maximum ICON shares he expects to receive after the Share Consolidation, i.e. the reduced amount, on or after the Ex-date 22 January 2020.

 

With the adjustments pursuant to the Share Consolidation effected on ICON shareholders’ CDS account at the end of the Entitlement Date (“Books Closure Date”), an entitled ICON shareholder may use the following basis to estimate the maximum number of ICON  shares that he may sell from the Ex-date until the Book Closing Date which is from 22 January 2020 until 23 January 2020. 

 

Number of  ICON shares that may be       =     Number of shares held  / 50

sold on 22 January 2020 until 23 January 2020    (All fractional shares computed should be disregarded)

 

Illustration:

For example, if Mr X owns or purchases 5000 ICON shares on cum basis on 21 January 2020, his CDS account would still show 5000 ICON shares until 23 January 2020. However, as a results of the above Share Consolidation exercise, Mr X’s 5000 ICON shares in his CDS account will be adjusted to 100 ICON shares on the night of  23 January 2020 which is the Book Closing Date. Therefore, Mr X may, if he so wishes, sells only up to 100 ICON shares on or after the Ex-date i.e. from 22 January 2020  onwards.

 

Participating Organisations are hereby requested to caution all dealers and remisiers that, during the period from 22 January 2020 until 23 January 2020, they are only entitled to sell the maximum of 1/50 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 Share Consolidation entails the consolidation of every 50 Existing Shares into 1 Consolidated Share as at 5.00 p.m. on Thursday, 23 January 2020. The Consolidated Shares will be listed and quoted on the Main Market of Bursa Malaysia Securities Berhad on 24 January 2020, being the next market day immediately after the Entitlement Date ("Listing Date"). A notice of allotment will be issued and despatched to the entitled shareholders for the Share Consolidation at the addresses set out in the Record of Depositors within 4 market days after the Listing Date. 

 

Remarks 3) :-  The entitlement for the Rights Shares and the Rights Warrants shall be effected after the share consolidation by Icon, the entitlement date of which is 5.00 p.m. on Thursday, 23 January 2020. The Abridged Prospectus together with the Notice of Provisional Allotment ("NPA") and the Rights Subscription Form ("RSF"), will only be despatched to the shareholders of Icon whose names appear on the Record of Depositors as at 5.00 p.m. on Thursday, 23 January 2020 ("Entitled Shareholders") at their address in Malaysia or who have provided the share registrar with an address in Malaysia in writing by 5.00 p.m. on Thursday, 23 January 2020. The Abridged Prospectus together with the NPA and RSF will not be sent to the foreign Entitled Shareholders and/or their renouncee(s)/transferee(s) (if applicable) who do not have a registered address in Malaysia. Foreign Entitled Shareholders who are without an address in Malaysia and wish to provide a Malaysian address, should inform their respective stockbrokers to effect the change of address by 5.00 p.m. on Thursday, 23 January 2020.

 


Announcement Info

Company Name ICON OFFSHORE BERHAD
Stock Name ICON
Date Announced 14 Jan 2020
Category Listing Circular
Reference Number ILC-13012020-00003