Adjustment
| FAST ENERGY HOLDINGS BERHAD |
| Entitlement subject | Adjustment |
| Entitlement description | ADJUSTMENTS TO THE NUMBER AND EXERCISE PRICE OF OUTSTANDING WARRANTS 2021/2026 ("WARRANT(S) A") AS SPECIFIED IN THE DEED POLL DATED 28 OCTOBER 2021 ("DEED POLL A"), AS A CONSEQUENCE OF THE CONSOLIDATION OF EVERY 6 ORDINARY SHARES IN FAST ENERGY HOLDINGS BERHAD ("FAST ENERGY") ("FAST ENERGY SHARE(S)") INTO 1 FAST ENERGY SHARE ("CONSOLIDATED SHARE(S)") AT 5.00 P.M. ON 28 SEPTEMBER 2022 ("SHARE CONSOLIDATION") |
| EX-date | 27 Sep 2022 |
| Entitlement date | 28 Sep 2022 |
| Entitlement time | 5:00 PM |
| Financial Year End | 31 Dec 2022 |
| Period of interest payment | to |
| Share transfer book & register of members will be | to closed from (both dates inclusive) for the purpose of determining the entitlement |
| Payment date | |
| a.Securities transferred into the Depositor's Securities Account before 4:30 pm in respect of transfers | 28 Sep 2022 |
| b.Securities deposited into the Depositor's Securities Account before 12:30 pm in respect of securities exempted from mandatory deposit | |
| c. Securities bought on the Exchange on a cum entitlement basis according to the Rules of the Exchange. | |
| Number of new
shares/securities issued (units) (If applicable) |
|
| Entitlement indicator | Ratio |
| Ratio | 1.0000 : 6.0000 |
| Rights Issue/Offer Price | |
| Par Value (if applicable) | |
| Registrar or Service Provider name, address, telephone no |
SHAREWORKS SDN BHD No. 2-1, Jalan Sri Hartamas 8 Sri Hartamas 50480 Kuala Lumpur Wilayah Persekutuan Malaysia Tel:0362011120 Fax:0362013121 |
| Remarks : |
Pursuant to the Share Consolidation, the number and exercise price of outstanding Warrants A which are not exercised prior to the Entitlement Date will be adjusted in accordance with the provisions of the Deed Poll A.
Holders of Warrants A who wish to be entitled to the Share Consolidation as the Companys shareholders shall exercise their rights to subscribe for new Fast Shares by lodging their duly completed exercise forms together with the relevant subscription monies with the Share Registrar of Fast Energy on or before 5.00 p.m. on Tuesday, 20 September 2022 such that their names will appear on the Record of Depositors of the Company at 5.00 p.m. on the Entitlement Date. The Warrants A will be consolidated on the basis of every 6 Warrants A held by the entitled holders of Warrants A of the Company ("Entitled Holders") into 1 Warrant A ("Consolidated Warrants A").
Fractional entitlements arising from the Adjustments, 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 actual number of Consolidated Warrants A to be consolidated would depend on the number of outstanding Warrants A which have yet to be exercised into new Fast Energy Shares as at the Entitlement Date.
Pursuant to the Adjustments, the existing exercise price of Warrants A of RM0.15 each will be revised to RM0.90 each.
The Consolidated Warrants A will be listed and quoted on the ACE Market of Bursa Malaysia Securities Berhad ("Bursa Securities") on 29 September 2022, being the next market day following the Entitlement Date.
The notice of allotment for the Consolidated Warrants A will be despatched to the Entitled Holders not later than 4 market days after the date of listing and quotation of the Consolidated Warrants A on Bursa Securities. The notice to the holders of Warrants A (setting out the details of the Adjustments) will be despatched to the Entitled Holders in due course.
This announcement is dated 13 September 2022. |
Announcement Info
| Company Name | FAST ENERGY HOLDINGS BERHAD |
| Stock Name | FAST-WA |
| Date Announced | 13 Sep 2022 |
| Category | Entitlement(Notice of Book Closure) |
| Reference Number | ENT-13092022-00002 |