TENAGA-C83 - Notice of Book Closure

ADJUSTMENT TO THE TERMS AND CONDITIONS OF THE EUROPEAN STYLE NON-COLLATERALISED CASH-SETTLED CALL WARRANTS OVER ORDINARY SHARES OF TENAGA NASIONAL BERHAD ("TENAGA") ("TENAGA SHARES") ("TENAGA-C83") PURSUANT TO A SPECIAL SINGLE-TIER DIVIDEND OF 40.0 SEN PER ORDINARY SHARE ("SPECIAL DIVIDEND").
 

Kindly be advised of the following : 

1)  The above Company's securities will be traded and quoted "Ex - Adjustment” as from: 30 Mar 2021
2)  The last date of lodgment : 31 Mar 2021
 

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Remarks :

In accordance with Part 1 Section 6.1(d) of the Deed Poll dated 3 August 2020, the base prospectus dated 13 August 2020 ("Base Prospectus") and the Term Sheet governing the terms and conditions of the TENAGA-C83 dated 2 November 2020, the terms and condition of TENAGA-C83 will be correspondingly adjusted based on the formula below:  

(I) Adjusted Exercise Ratio = E x [(P-D) / P]
(II) Adjusted Exercise Price = X x [(P-D) / P]

whereby:-

P = Closing price of TENAGA Share on the last market day on which TENAGA Share is traded on a cum-entitlement basis.
D = RM0.40, being the Special Dividend per one (1) TENAGA Share held.
X = RM10.30, being the existing Exercise Price of TENAGA-C83 immediately prior to the Special Dividend.
E = 20, being the existing Exercise Ratio of TENAGA-C83 immediately prior to the Special Dividend.

We shall make the announcement on the actual adjustments to TENAGA-C83 on the Last Cum Date. 

No adjustment shall be made to the Exercise Ratio or the Exercise Price if the adjustment would amount to less than 2% of the Exercise Ratio or the Exercise Price being changed.