Adjustment
| FRONTKN-CV: CW FRONTKEN CORPORATION BERHAD (AM) |
| Entitlement subject | Adjustment |
| Entitlement description | ADJUSTMENT TO THE TERMS AND CONDITIONS OF THE EUROPEAN STYLE NON-COLLATERALISED CASH-SETTLED CALL WARRANTS OVER ORDINARY SHARES OF FRONTKEN CORPORATION BERHAD ("FRONTKN") ("FRONTKN SHARES") ("FRONTKN-CV") PURSUANT TO ISSUE OF UP TO 526,717,565 NEW ORDINARY SHARES IN FRONTKN ("BONUS SHARES") ON THE BASIS OF 1 BONUS SHARE FOR EVERY 2 EXISTING FRONTKN SHARES ("BONUS ISSUE OF SHARES") AND ISSUE OF UP TO 526,717,565 FREE WARRANTS IN FRONTKN ("BONUS ISSUE OF WARRANTS") ON THE BASIS OF 1 WARRANT FOR EVERY 2 EXISTING FRONTKN SHARES HELD AT 5.00 P.M. ON 28 APRIL 2021 ("ENTITLEMENT DATE") |
| EX-date | 27 Apr 2021 |
| Entitlement date | 28 Apr 2021 |
| Entitlement time | 5:00 PM |
| Financial Year End | 31 Dec 2021 |
| Period of interest payment | to |
| Share transfer book & register of members will be | to closed from (both dates inclusive) for the purpose of determining the entitlement |
| Payment date | |
| a.Securities transferred into the Depositor's Securities Account before 4:30 pm in respect of transfers | 28 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 |
| Ratio | 0.0000 : 0.0000 |
| Rights Issue/Offer Price | |
| Par Value (if applicable) | |
| Registrar or Service Provider name, address, telephone no |
TRICOR INVESTOR & ISSUING HOUSE SERVICES SDN BHD Unit 32-01, Level 32, Tower A, Vertical Business Suite, Avenue 3, Bangsar South, No. 8, Jalan Kerinchi 59200 Kuala Lumpur Wilayah Persekutuan Malaysia Tel:0327839299 Fax:0327839222 |
| Remarks : |
Reference is also made to the base prospectus dated 13 August 2020 (Base Prospectus), and the Term Sheet governing the terms and conditions of the FRONTKN-CV dated 11 November 2020. The terms and conditions of the FRONTKN-CV shall be correspondingly adjusted based on the formulas below: (a) Adjustment pursuant to the Bonus Issue of Shares Exercise Price The Exercise Price for the FRONTKN-CV will be adjusted as determined by the following formula:- Adjusted Exercise Price = X / (1+N) Exercise Ratio The Exercise Ratio for the FRONTKN-CV will be adjusted as determined by the following formula:- Adjusted Exercise Ratio = E / (1+N) where, X = RM4.00, being the existing Exercise Price of FRONTKN-CV immediately prior to the Bonus Issue of Shares. N = 0.50, being the number of additional FRONTKN Share (whether a whole or fraction) received by a holder of existing FRONTKN Share held prior to the Bonus Issue of Shares. E = 10, being the existing Exercise Ratio of FRONTKN immediately prior to the Bonus Issue of Shares. (b) Adjustment pursuant to the Bonus Issue of Warrants The adjustment pursuant to the Bonus Issue of Warrants shall take effect after the Exercise Price and Exercise Ratio had been adjusted pursuant to the Bonus Issue of Shares. Exercise Price The Exercise Price for the FRONTKN-CV will be adjusted as determined by the following formula:- Exercise Ratio The Exercise Ratio for the FRONTKN-CV will be adjusted as determined by the following formula:- where, E: being the existing Exercise Ratio of FRONTKN-CV immediately after the adjustment for the Bonus Issue of Shares and prior to the Bonus Issue of Warrants. S: being the last traded price of FRONTKN on the last Market Day on which FRONTKN is traded on cum-entitlement basis after taking into account the adjustments made pursuant to the Bonus Issue of Shares. R: RM4.00, being the exercise price per Warrant under the Bonus Issue of Warrants. M: 1/2, being the number of Warrant in FRONTKN (whether a whole or a fraction) per existing FRONTKN Share each holder thereof is entitled to. X: being the adjusted Exercise Price of FRONTKN-CV after taking into account the adjustments made pursuant to the Bonus Issue of Shares. The Exercise Ratio or the Exercise Price shall be adjusted pursuant to Bonus Issue of Shares. Subsequently, the Exercise Ratio or the Exercise Price shall then be adjusted pursuant to Bonus Issue of Warrants if:- i) the Warrant is theoretically in-the-money; and ii) the adjustment would amount to greater than or equal to 2% of the Exercise Ratio or the Exercise Price being changed. We shall make the announcement on the actual adjustments to FRONTKN-CV on the Last Cum Date. This announcement is dated 15 April 2021. |
Announcement Info
| Company Name | FRONTKN-CV: CW FRONTKEN CORPORATION BERHAD (AM) |
| Stock Name | FRONTKN-CV |
| Date Announced | 15 Apr 2021 |
| Category | Entitlement(Notice of Book Closure) |
| Reference Number | ENT-15042021-00012 |