DIGISTA-WB

0.005

(%)

DIGISTA-WB - Notice of Book Closure

DIGISTAR CORPORATION BERHAD

ADJUSTMENTS TO THE EXERCISE PRICE AND THE NUMBER OF THE OUTSTANDING WARRANTS 2013/2023 ("WARRANT(S) B") OF DIGISTAR CORPORATION BERHAD ("DIGISTAR" OR THE "COMPANY") IN ACCORDANCE WITH THE PROVISIONS OF THE DEED POLL DATED 4 MARCH 2013 ("DEED POLL B") PURSUANT TO THE CONSOLIDATION OF EVERY 3 ORDINARY SHARES IN DIGISTAR ("DIGISTAR SHARE(S)") INTO 1 DIGISTAR SHARE ("CONSOLIDATED SHARE(S)") AS AT 5.00 P.M. ON 30 MAY 2022 ("SHARE CONSOLIDATION") ("ADJUSTMENTS")
 

Kindly be advised of the following : 

1)  The above Company's securities will be traded and quoted "Ex - Adjustment” 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 DIGISTA CORP BHD - WB

 

The Share Consolidation comprises the following: -

 

ADJUSTMENTS TO THE EXERCISE PRICE AND THE NUMBER OF THE OUTSTANDING WARRANTS 2013/2023 ("WARRANT(S) B") OF DIGISTAR CORPORATION BERHAD ("DIGISTAR" OR THE "COMPANY") IN ACCORDANCE WITH THE PROVISIONS OF THE DEED POLL DATED 4 MARCH 2013 ("DEED POLL B") PURSUANT TO THE CONSOLIDATION OF EVERY 3 ORDINARY SHARES IN DIGISTAR ("DIGISTAR SHARE(S)") INTO 1 DIGISTAR SHARE ("CONSOLIDATED SHARE(S)") AS AT 5.00 P.M. ON 30 MAY 2022 ("SHARE CONSOLIDATION") ("ADJUSTMENTS")

 

In relation to the warrants adjustment undertaken by DIGISTA-WB 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-WB shares will be based on the newly adjusted warrants arising from warrants adjustments,

 

(b) on the basis of settlement taking place after 30 May 2022 with adjusted DIGISTA-WB shares, an entitled warrants holder who owns DIGISTA-WB shares as at Ex-date may sell only up to the maximum DIGISTA-WB shares he expects to receive after the adjustment, i.e. the reduced amount, on or after the Ex-date 27 May 2022.

 

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

 

Number of DIGISTA-WB 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-WB shares on cum basis on 26 May 2022, his CDS account would still show 300 DIGISTA-WB shares until 30 May 2022. However, as a result of the above warrants adjustment, Mr X’s 300 DIGISTA-WB shares in his CDS account will be adjusted to 100 DIGISTA-WB 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-WB 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:

 

Pursuant to the Share Consolidation, the exercise price and number of outstanding Warrants B which are not exercised prior to the Entitlement Date will be adjusted in accordance with the provisions of the Deed Poll B.

 

The Warrants B will be consolidated on the basis of every 3 Warrants B held by the entitled holders of Warrants B ("Warrants B Holders") of the Company (whose names appear in the Record of Depositors for the Warrants B at 5.00 p.m. on the Entitlement Date) into 1 Warrant B ("Consolidated Warrant(s) B").

 

Fractional entitlements arising from the Adjustments, 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 actual number of Consolidated Warrants B to be issued and allotted would depend on the number of outstanding Warrants B which have yet to be exercised into new Shares as at the Entitlement Date.

 

Pursuant to the Adjustments, the existing exercise price of Warrants B of RM0.25 each will be revised to RM0.75 each.

 

The Consolidated Warrants B will be listed and quoted on the Main Market of Bursa Malaysia Securities Berhad ("Bursa Securities") on 31 May 2022, being the next market day following the Entitlement Date.

 

The notice of allotment for the Consolidated Warrants B will be issued and despatched to all the entitled Warrants B Holders not later than 4 market days after the date of the listing of and quotation for the Consolidated Warrants B on the Main Market of Bursa Securities. The notice to Warrants B Holders setting out the details of the Adjustments to the Warrants B will be despatched to the Warrants B Holders in due course.

 


Announcement Info

Company Name DIGISTAR CORPORATION BERHAD
Stock Name DIGISTA-WB
Date Announced 18 May 2022
Category Listing Circular
Reference Number ILC-17052022-00003