GDEX-CS - Notice of Book Closure

ADJUSTMENTS TO THE TERMS AND CONDITIONS OF THE NON-COLLATERALISED EUROPEAN-STYLE CASH SETTLED CALL WARRANTS OVER ORDINARY SHARES OF GD EXPRESS CARRIER BHD ("GDEX") ("GDEX-CS") PURSUANT TO ISSUANCE OF UP TO 705,176,354 FREE WARRANTS IN GDEX ("WARRANTS C") ON THE BASIS OF ONE (1) WARRANT C FOR EVERY EIGHT (8) EXISTING ORDINARY SHARES IN GDEX HELD AS AT 5.00 P.M. ON 30 DECEMBER 2020 ("ENTITLEMENT DATE")
 

Kindly be advised of the following : 

1)  The above Company's securities will be traded and quoted "Ex - Adjustment” as from: 29 Dec 2020
2)  The last date of lodgment : 30 Dec 2020

Remarks :

This announcement is made by RHBIB in relation to the non-collateralised European-style cash settled call warrants over ordinary shares of GDEX issued by RHBIB on 10 August 2020. The expressions applied in this announcement shall have the same meanings ascribed to them as set out in the Base Prospectus dated 24 October 2019 ("Base Prospectus"), the First Supplementary Base Prospectus dated 9 June 2020 ("First Supplementary Base Prospectus") and the Second Supplementary Base Prospectus dated 30 September 2020 ("Second Supplementary Base Prospectus").

Adjustment pursuant to the Bonus Issue :

Condition 2 - Adjustment of Exercise Price, Underlying Index, Exercise Level and/or Exercise Ratio of the Part 1 of the Deed Poll dated 22 October 2019, the Exercise Ratio and Exercise Price of GDEX-CS will be adjusted for the Bonus Issue in accordance with the following formula:

1. Adjusted Exercise Ratio    =  [ (1 + (R/S) x M ) / (1 + M) ] x E

2. Adjusted Exercise Price    =  [ (1 + (R/S) x M ) / (1 + M) ] x X

Whereby in respect of this Condition 2.1.1(b)(i) and (ii):

R  = RM0.4500, being the exercise price per Share of the Warrants C

S = The last traded price of the Shares on the last market day on which the Shares are traded on a cum-entitlement basis

M = 0.1250, being the number of new Shares (whether a whole or a fraction) per existing Share that a Shareholder would be entitled to receive upon exercise of the Warrants C.

X = RM0.4000, being the existing Exercise Price immediately prior to the Bonus Issue

E = 2.0000, being the existing Exercise Ratio immediately prior to the Bonus Issue.

Please note the Exercise Price and Exercise Ratio shall only be adjusted if 

(i) the Warrants C are theoretically in-the-money as of the last market day on which the Shares are traded on a cum-entitlement basis (i.e. S is larger than R); and 

(ii) the adjustment would result in greater than or equal to two percent (2%) of the Exercise Price and Exercise Ratio being changed.

RHBIB, as the issuer of GDEX-CS, will make a further announcement should there be any updates in due course.