SERSOL-WA - Notice of Book Closure

ADJUSTMENTS TO THE EXERCISE PRICE AND NUMBER OF OUTSTANDING WARRANTS 2013/2023 IN SERSOL BERHAD ("SERSOL" OR THE "COMPANY") ("ADJUSTMENTS") CONSTITUTED BY THE DEED POLL DATED 15 MARCH 2013 ("DEED POLL") ("WARRANT(S) A") PURSUANT TO THE BONUS ISSUE OF UP TO 384,227,375 NEW ORDINARY SHARES IN SERSOL ("SERSOL SHARE(S)" OR "SHARE(S)") ("BONUS SHARE(S)") ON THE BASIS OF 7 BONUS SHARES FOR EVERY 8 EXISTING SERSOL SHARES HELD AT 5.00 P.M. ON 4 JULY 2022 ("ENTITLEMENT DATE") ("BONUS ISSUE OF SHARES")
 

Kindly be advised of the following : 

1)  The above Company's securities will be traded and quoted "Ex - Adjustment” as from: 01 Jul 2022
2)  The last date of lodgment : 04 Jul 2022
 

Remarks 1 :-

"Bursa Malaysia Securities Bhd would like to clarify that on the basis of settlement taking place after 4 July 2022  with adjustment to the number of outstanding SERSOL-WA shares, any shareholder who is entitled to receive SERSOL-WA additional shares may now sell any or all of his SERSOL-WA shares arising from adjustment consequent to the bonus issue beginning the Ex-Date (1 July 2022 ). 

For example, if Mr X purchases 800 SERSOL-WA shares on cum basis on 30 Jun 2022, Mr X should receive 800 shares on 4 July 2022 . Consequent to a bonus issue, an additional of 700 SERSOL-WA shares will be credited into Mr X's CDS account on the night of 4 July 2022  being the Book Closing Date. Therefore, Mr X can sell the a total of 1500 SERSOL-WA shares on or after the Ex-Date ie from 1 July 2022  onwards." 

Remarks 2:
The holders of the warrants 2013/2023 issued by Sersol ("Warrants A") must exercise their respective outstanding Warrants A and lodge their duly completed and signed exercise form with the exercise monies with the Share Registrar by 5.00 p.m. on 22 June 2022 in order to be entitled to the Bonus Issue of Shares.

Up to 74,394,687 additional Warrants A to be issued arising from the Adjustments ("Additional Warrants A") shall be allotted to the entitled Warrant A holders of the Company whose names appear in the Record of Depositors for Warrants A on 4 July 2022 on the basis of 7 Warrants A for every 8 Warrants A held.

The exact number of Additional Warrants A to be allotted and issued will depend on the number of outstanding Warrants A as at the Entitlement Date. Fractional entitlements arising from the Adjustments, if any, shall be disregarded and/ or dealt with in such manner as the Board of Directors of the Company in its sole and absolute discretion deems fit and expedient and in the best interests of the Company. 

The Additional Warrants A will be listed and quoted on the ACE Market of Bursa Malaysia Securities Berhad ("Bursa Securities") on 5 July 2022, being the next market day following the Entitlement Date. The notice of allotment for the Additional Warrants A will be despatched to the entitled Warrants A holders not later than 4 market days after the date of listing and quotation of the Additional Warrants A on Bursa Securities. The notice the holders of Warrants A setting out the details of the Adjustments will be issued and despatched in due course.