YONGTAI - Notice of Book Closure
YONG TAI BERHAD |
CONSOLIDATION OF EVERY 5 EXISTING ORDINARY SHARES IN YONG TAI BERHAD ("YTB" OR "COMPANY") ("YTB SHARES" OR "SHARES") HELD AT 5.00 P.M. ON 1 AUGUST 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: 29 Jul 2022
2) The last date of lodgment : 01 Aug 2022
Remarks 1:
Participating Organisations are to take note of the following Share Consolidation exercise by YONG TAI BERHAD
The Share Consolidation comprises the following:-
CONSOLIDATION OF EVERY 5 EXISTING ORDINARY SHARES IN YONG TAI BERHAD ("YTB" OR "COMPANY") ("YTB SHARES" OR "SHARES") HELD AT 5.00 P.M. ON 1 AUGUST 2022 INTO 1 SHARE ("CONSOLIDATED SHARE") ("SHARE CONSOLIDATION")
In relation to the Share Consolidation undertaken by YONGTAI as a SPEEDS Corporate Exercise, Bursa Malaysia Securities Berhad would like to highlight that:
(a) on or after the Ex-date on 29 Jul 2022, trading of YONGTAI shares will be based on the newly adjusted share after the Share Consolidation of YONGTAI shares,
(b) on the basis of settlement taking place after 1 Aug 2022 with consolidated YONGTAI shares, any entitled shareholder who owns YONGTAI shares as at Ex-date may sell only up to the maximum YONGTAI shares he expects to receive after the Share Consolidation, i.e. the reduced amount, on or after the Ex-date 29 Jul 2022.
With the adjustments pursuant to the Share Consolidation effected on YONGTAI shareholders’ CDS account at the end of the Entitlement Date (“Books Closure Date”), an entitled YONGTAI shareholder may use the following basis to estimate the maximum number of YONGTAI shares that he may sell from the Ex-date until the Book Closing Date which is from 29 Jul 2022 until 1 Aug 2022.
Number of YONGTAI shares that may be = Number of shares held / 5
sold from 29 Jul 2022 until 1 Aug 2022 (All fractional shares computed should be disregarded)
Illustration:
For example, if Mr X owns or purchases 500 YONGTAI shares on cum basis on 28 Jul 2022, his CDS account would still show 500 YONGTAI shares until 1 Aug 2022. However, as a result of the above Share Consolidation exercise, Mr X's 500 YONGTAI shares in his CDS account will be adjusted to 100 YONGTAI shares on the night of 1 Aug 2022 which is the Book Closing Date. Therefore, Mr X may, if he so wishes, sells only up to 100 YONGTAI shares on or after the Ex-date i.e. from 29 Jul 2022 onwards.
Participating Organisations are hereby requested to caution all dealers and remisiers that, during the period from 29 Jul 2022 until 1 Aug 2022, they are only entitled to sell the maximum of 1/5 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 5 existing Shares into 1 Consolidated Share as at 5.00 p.m. on 1 August 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 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 2 August 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.
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.
Holders of outstanding irredeemable convertible preference shares ("ICPS") who wish to be entitled to the Share Consolidation should convert their ICPS by lodging their duly completed ICPS conversion forms with the Share Registrar, Bina Management (M) Sdn Bhd, on or before 5.00 p.m. on 20 July 2022. This is to enable their names to appear on the Company's Record of Depositors by 5.00 p.m. on 1 August 2022.
Announcement Info
Company Name | YONG TAI BERHAD |
Stock Name | YONGTAI |
Date Announced | 19 Jul 2022 |
Category | Listing Circular |
Reference Number | ILC-19072022-00001 |