MTRONIC - Notice of Book Closure

CONSOLIDATION OF EVERY 10 EXISTING ORDINARY SHARES IN METRONIC GLOBAL BERHAD ("METRONIC" OR THE "COMPANY") ("METRONIC SHARES" OR "SHARES") HELD AT 5.00 P.M. ON 20 MAY 2022 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: 19 May 2022
2)  The last date of lodgment : 20 May 2022

Remarks 1:

Participating Organisations are to take note of the following Share Consolidation exercise by METRONIC GLOBAL BERHAD 

The Share Consolidation comprises the following:-

CONSOLIDATION OF EVERY 10 EXISTING ORDINARY SHARES IN METRONIC GLOBAL BERHAD ("METRONIC" OR THE "COMPANY") ("METRONIC SHARES" OR "SHARES") HELD AT 5.00 P.M. ON 20 MAY 2022 INTO 1 SHARE ("CONSOLIDATED SHARE") ("SHARE CONSOLIDATION")

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

 (a)    on or after the Ex-date on 19 May 2022, trading of MTRONIC shares will be based on the newly adjusted share after the             Share Consolidation of MTRONIC shares,

 (b)    on the basis of settlement taking place after 20 May 2022 with consolidated MTRONIC shares, any entitled shareholder

         who owns MTRONIC shares as at Ex-date may sell only up to the maximum MTRONIC shares he expects to receive after

         the Share Consolidation, i.e. the reduced amount, on or after the Ex-date 19 May 2022.

With the adjustments pursuant to the Share Consolidation effected on MTRONIC shareholders’ CDS account at the end of the Entitlement Date (“Books Closure Date”), an entitled MTRONIC shareholder may use the following basis to estimate the maximum number of MTRONIC shares that he may sell from the Ex-date until the Book Closing Date which is from 19 May 2022 until 20 May 2022.

Number of MTRONIC shares that may be sold             =                            Number of shares held / 10

from 19 May 2022 until 20 May 2022                                       (All fractional shares computed should be disregarded)                                                                                                                                                                                           

Illustration:

For example, if Mr X owns or purchases 1000 MTRONIC shares on cum basis on 18 May 2022, his CDS account would still show 1000 MTRONIC shares until 20 May 2022. However, as a result of the above Share Consolidation exercise, Mr X’s 1000 MTRONIC shares in his CDS account will be adjusted to 100 MTRONIC shares on the night of 20 May 2022 which is the Book Closing Date. Therefore, Mr X may, if he so wishes, sells only up to 100 MTRONIC shares on or after the Ex-date i.e. from 19 May 2022 onwards.

Participating Organisations are hereby requested to caution all dealers and remisiers that, during the period from 19 May 2022 until 20 May 2022, 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 20 May 2022, 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 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 Main Market of Bursa Malaysia Securities Berhad ("Bursa Securities") on 23 May 2022, 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 Main Market of Bursa Securities.