NEXGRAM-WB - Notice of Book Closure

ADJUSTMENTS TO THE NUMBER AND EXERCISE PRICE OF OUTSTANDING WARRANTS 2013/2023 ("WARRANT(S) B") CONSTITUTED BY THE DEED POLL DATED 22 JULY 2013 ("DEED POLL B"), AS A CONSEQUENCE OF THE CONSOLIDATION OF EVERY 10 ORDINARY SHARES IN NEXGRAM HOLDINGS BERHAD ("NEXGRAM") ("NEXGRAM SHARE(S)") INTO 1 NEXGRAM SHARE ("CONSOLIDATED SHARE(S)") AT 5.00 P.M. ON 24 NOVEMBER 2022 ("SHARE CONSOLIDATION")
 

Further to Reference No.    ILC-08112022-00006, kindly be advised of the following :

1)  The above Company's securities will be traded and quoted "Ex - Adjustment” as from: 23 Nov 2022(Instead of 18 Nov  2022)
2)  The last date of lodgment : 24 Nov 2022 ( Instead of  21 Nov 2022) 

Remarks 1

Participating Organisations are to take note of the following Share Consolidation exercise by NEXGRAM HOLDINGS BERHAD - WB 2013/2023.

The Share Consolidation comprises the following: -

ADJUSTMENTS TO THE NUMBER AND EXERCISE PRICE OF OUTSTANDING WARRANTS 2013/2023 ("WARRANT(S) B") CONSTITUTED BY THE DEED POLL DATED 22 JULY 2013 ("DEED POLL B"), AS A CONSEQUENCE OF THE CONSOLIDATION OF EVERY 10 ORDINARY SHARES IN NEXGRAM HOLDINGS BERHAD ("NEXGRAM") ("NEXGRAM SHARE(S)") INTO 1 NEXGRAM SHARE ("CONSOLIDATED SHARE(S)") AT 5.00 P.M. ON 24 NOVEMBER 2022 ("SHARE CONSOLIDATION")

In relation to the warrants adjustment undertaken by NEXGRAM-WB as a SPEEDS Corporate Exercise, Bursa Malaysia Securities Berhad would like to highlight that:

a) on or after the Ex-date on 23 Nov 2022, trading of NEXGRAM-WB shares will be based on the newly adjusted warrants arising from warrants adjustments,

b) on the basis of settlement taking place after 24 Nov 2022 with adjusted NEXGRAM-WB shares, an entitled warrants holder who owns NEXGRAM-WB shares as at Ex-date may sell only up to the maximum NEXGRAM-WB shares he expects to receive after the adjustment, i.e. the reduced amount, on or after the Ex-date 23 Nov 2022.

With the warrants adjustments pursuant to the Share Consolidation effected on NEXGRAM-WB shareholders’ CDS account at the end of the Entitlement Date (“Books Closure Date”), an entitled NEXGRAM-WB shareholder may use the following basis to estimate the maximum number of NEXGRAM-WB shares that he may sell from the Ex-date until the Book Closing Date which is from 23 Nov 2022 until 24 Nov 2022

Illustration:

For example, if Mr X owns or purchases 1000 NEXGRAM-WB shares on cum basis on 22 Nov 2022, his CDS account would still show 1000 NEXGRAM-WB shares until 24 Nov 2022. However, as a result of the above warrants adjustment, Mr X’s 1000 NEXGRAM-WB shares in his CDS account will be adjusted to 100 NEXGRAM-WB shares on the night of 24 Nov 2022 which is the Book Closing Date. Therefore, Mr X may, if he so wishes, sells only up to 100 NEXGRAM-WB shares on or after the Ex-date i.e. from 23 Nov 2022 onwards.

Participating Organisations are hereby requested to caution all dealers and remisiers that, during the period from 23 Nov 2022 until 24 Nov 2022, they are only entitled to sell the maximum of 1/10 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 change of entitlement date is due to the Government of Malaysia's declaration of 18 November 2022 and 19 November 2022 as public holidays

Remarks 3 :
Pursuant to the Share Consolidation, the number and exercise price 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 10 Warrants B held by the entitled holders of Warrants B of the Company ("Entitled Holders") (whose names appear in the Record of Depositors at 5.00 p.m. on the Entitlement Date) into 1 Warrant B ("Consolidated Warrants B"). 

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 B to be consolidated would depend on the number of outstanding Warrants B which have yet to be exercised into new Nexgram Shares as at the Entitlement Date.

Pursuant to the Adjustments, the existing exercise price of Warrants B of RM0.26 each will be revised to RM2.60 each.

The Consolidated Warrants B will be listed and quoted on the ACE Market of Bursa Malaysia Securities Berhad ("Bursa Securities") on 25 November 2022, being the next market day following the Entitlement Date.

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