MTOUCHE - Notice of Book Closure

CONSOLIDATION OF EVERY 10 EXISTING ORDINARY SHARES IN MTOUCHE TECHNOLOGY BERHAD ("MTOUCHE" OR THE "COMPANY") ("MTOUCHE SHARES" OR "SHARES") HELD AT 5.00 P.M. ON 21 APRIL 2021 INTO 1 SHARE ("CONSOLIDATED SHARE") ("SHARE CONSOLIDATION")
 

Kindly be advised of the following : 

1)  The above Company's securities will be traded and quoted "Ex - Consolidation” as from: 20 Apr 2021
2)  The last date of lodgment : 21 Apr 2021
 

Remarks 1:

Participating Organisations are to take note of the following Share Consolidation exercise by MTOUCHE TECHNOLOGY BERHAD.

The Share Consolidation comprises the following:-

CONSOLIDATION OF EVERY 10 EXISTING ORDINARY SHARES IN MTOUCHE TECHNOLOGY BERHAD ("MTOUCHE" OR THE "COMPANY") ("MTOUCHE SHARES" OR "SHARES") HELD AT 5.00 P.M. ON 21 APRIL 2021 INTO 1 SHARE ("CONSOLIDATED SHARE") ("SHARE CONSOLIDATION")

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

(a) on or after the Ex-date on 20 April 2021, trading of MTOUCHE shares will be based on the newly adjusted share after the Share Consolidation of MTOUCHE shares,

(b) on the basis of settlement taking place after 21 April 2021 with consolidated MTOUCHE shares, any entitled shareholder who owns MTOUCHE shares as at Ex-date may sell only up to the maximum MTOUCHE shares he expects to receive after the Share Consolidation, i.e. the reduced amount, on or after the Ex-date 20 April 2021.

With the adjustments pursuant to the Share Consolidation effected on MTOUCHE shareholders’ CDS account at the end of the Entitlement Date (“Books Closure Date”), an entitled MTOUCHE shareholder may use the following basis to estimate the maximum number of MTOUCHE shares that he may sell from the Ex-date until the Book Closing Date which is from 20 April 2021 until 21 April 2021.

Number of MTOUCHE shares​ that may be                                =              Number of shares held / 10

sold from  20 April 2021 until 21 April 2021​                                    (All fractional shares computed should be disregarded)

Illustration:

For example, if Mr X owns or purchases 1000 MTOUCHE shares on cum basis on 19 April 2021, his CDS account would still show 1000 MTOUCHE shares until 21 April 2021. However, as a result of the above Share Consolidation exercise, Mr X’s 1000 MTOUCHE shares in his CDS account will be adjusted to 100 MTOUCHE shares on the night of 21 April 2021 which is the Book Closing Date. Therefore, Mr X may, if he so wishes, sells only up to 100 MTOUCHE shares on or after the Ex-date i.e. from 20 April 2021 onwards.

Participating Organisations are hereby requested to caution all dealers and remisiers that, during the period from 20 April 2021 until 21 April 2021, they are only entitled to sell the maximum of 1/10 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 involves the consolidation of every 10 existing Shares into 1 Consolidated Share as at 5.00 p.m. on 21 April 2021, being the entitlement date for the Share Consolidation.

The actual number of Consolidated Shares to be issued would depend on the issued share capital of the Company on the entitlement date for the Share Consolidation.

Fractional entitlements arising from the Share Consolidation, if any, shall be disregarded and dealt with by the Board of Directors of the Company at its absolute discretion in such manner as it may deem fit or expedient and in the best interest of the Company.

The Consolidated Shares will be listed and quoted on the ACE Market of Bursa Malaysia Securities Berhad (Bursa Securities) on 22 April 2021, being the next market day following the entitlement date for the Share Consolidation.

The notices of allotment of the Consolidated Shares will be issued and despatched to the entitled shareholders within 4 market days after the date of listing and quotation of the Consolidated Shares on the ACE Market of Bursa Securities.

The Share Consolidation will result in a reduction in the number of Shares available in the market and the trading price of the Shares will be adjusted accordingly in proportion to the basis of the Share Consolidation. The shareholders of the Company are strongly advised to trade cautiously to prevent overselling of their position in respect of the Shares held.