DIGISTA

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DIGISTA - Notice of Book Closure

DIGISTAR CORPORATION BERHAD

CONSOLIDATION OF EVERY 3 ORDINARY SHARES IN DIGISTAR CORPORATION BERHAD ("DIGISTAR" OR THE "COMPANY") ("DIGISTAR SHARE(S)") INTO 1 DIGISTAR SHARE ("CONSOLIDATED SHARE(S)") ("SHARE CONSOLIDATION")
 

Kindly be advised of the following : 

1)  The above Company's securities will be traded and quoted "Ex - Consolidation” as from: 27 May 2022
2)  The last date of lodgment : 30 May 2022
 

Remarks 1:

 

Participating Organisations are to take note of the following Share Consolidation exercise by DIGISTAR CORPORATION BERHAD

 

The Share Consolidation comprises the following:-

 

CONSOLIDATION OF EVERY 3 ORDINARY SHARES IN DIGISTAR CORPORATION BERHAD ("DIGISTAR" OR THE "COMPANY") ("DIGISTAR SHARE(S)") INTO 1 DIGISTAR SHARE ("CONSOLIDATED SHARE(S)") ("SHARE CONSOLIDATION")

 

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

 

(a) on or after the Ex-date on 27 May 2022, trading of DIGISTA shares will be based on the newly adjusted share after the Share Consolidation of DIGISTA shares,

 

(b) on the basis of settlement taking place after 30 May 2022 with consolidated DIGISTA shares, any entitled shareholder who owns DIGISTA shares as at Ex-date may sell only up to the maximum DIGISTA shares he expects to receive after the Share Consolidation, i.e. the reduced amount, on or after the Ex-date 27 May 2022.

 

With the adjustments pursuant to the Share Consolidation effected on DIGISTA shareholders’ CDS account at the end of the Entitlement Date (“Books Closure Date”), an entitled DIGISTA shareholder may use the following basis to estimate the maximum number of DIGISTA shares that he may sell from the Ex-date until the Book Closing Date which is from 27 May 2022 until 30 My 2022.

 

Number of DIGISTA shares that may be                               =             Number of shares held / 3

sold from 27 May 2022 until 30 May 2022                        (All fractional shares computed disregarded)

 

 

Illustration:

 

For example, if Mr X owns or purchases 300 DIGISTA shares on cum basis on 26 May 2022, his CDS account would still show 300 DIGISTA shares until 30 May 2022. However, as a result of the above Share Consolidation exercise, Mr X’s 300 DIGISTA shares in his CDS account will be adjusted to 100 DIGISTA shares on the night of 30 May 2022 which is the Book Closing Date. Therefore, Mr X may, if he so wishes, sells only up to 100 DIGISTA shares on or after the Ex-date i.e. from 27 May 2022 onwards.

 

Participating Organisations are hereby requested to caution all dealers and remisiers that, during the period from 27 May 2022 until 30 May 2022, they are only entitled to sell the maximum of 1/3 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 actual number of Consolidated Shares to be consolidated would depend on the issued share capital of Digistar on the Entitlement Date. The fractional entitlements arising from the Share Consolidation, if any, shall be disregarded and 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 date of the listing of and quotation for the Consolidated Shares on the Main Market of Bursa Malaysia Securities Berhad ("Bursa Securities") shall be on 31 May 2022, being the next market date immediately after the Entitlement Date.

 

The notice of allotment of the Consolidated Shares will be issued and despatched to all the entitled shareholders of Digistar within 4 market days after the date of the listing of and quotation for the Consolidated Shares on the Main Market of Bursa Securities.


Announcement Info

Company Name DIGISTAR CORPORATION BERHAD
Stock Name DIGISTA
Date Announced 18 May 2022
Category Listing Circular
Reference Number ILC-17052022-00006