LAMBO - Notice of Book Closure

CONSOLIDATION OF EVERY 25 EXISTING ORDINARY SHARES IN LAMBO GROUP BERHAD ("LAMBO" OR THE "COMPANY") ("LAMBO SHARES" OR "SHARES") HELD AT 5.00 P.M. ON 26 JULY 2021 INTO 1 LAMBO 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: 23 Jul 2021
2)  The last date of lodgment : 26 Jul 2021

Remarks 1:

Participating Organisations are to take note of the following Share Consolidation exercise by LAMBO GROUP BERHAD 

The Share Consolidation comprises the following:-

CONSOLIDATION OF EVERY 25 EXISTING ORDINARY SHARES IN LAMBO GROUP BERHAD ("LAMBO" OR THE "COMPANY") ("LAMBO SHARES" OR "SHARES") HELD AT 5.00 P.M. ON 26 JULY 2021 INTO 1 LAMBO SHARE ("CONSOLIDATED SHARE") ("SHARE CONSOLIDATION")

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

 (a) on or after the Ex-date on 23 July 2021, trading of LAMBO shares will be based on the newly adjusted share after the Share Consolidation of LAMBO shares,

(b) on the basis of settlement taking place after  26 July 2021 with consolidated LAMBO shares, any entitled shareholder who owns LAMBO  shares as at Ex-date may sell only up to the maximum LAMBO shares he expects to receive after the Share Consolidation, i.e. the reduced amount, on or after the Ex-date 23 July 2021.

With the adjustments pursuant to the Share Consolidation effected on LAMBO shareholders’ CDS account at the end of the Entitlement Date (“Books Closure Date”), an entitled LAMBO shareholder may use the following basis to estimate the maximum number of LAMBO shares that he may sell from the Ex-date until the Book Closing Date which is from 23 July 2021 until 26 July 2021.

Number of LAMBO shares that may be                       =             Number of shares held / 25

sold from 23 July  2021 until  26 July 2021                        (All fractional shares computed disregarded)

Illustration:   

For example, if Mr X owns or purchases 1000 LAMBO shares on cum basis on 22 July 2021, his CDS account would still show 1000 LAMBO shares until  26 July 2021. However, as a result of the above Share Consolidation exercise, Mr X’s 1000 LAMBO shares in his CDS account will be adjusted to 40 LAMBO shares on the night of  26 July 2021 which is the Book Closing Date. Therefore, Mr X may, if he so wishes, sells only up to 40 LAMBO shares on or after the Ex-date i.e. from 23 July 2021 onwards.

Remarks 2:-  The Share Consolidation involves the consolidation of every 25 existing Lambo Shares into 1 Consolidated Share as at 5.00 p.m. on 26 July 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/or dealt with by the Board of Directors of the Company in such manner at its absolute discretion 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 27 July 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.