ASIABIO-WA - Notice of Book Closure

ADJUSTMENTS TO THE NUMBER AND EXERCISE PRICE OF OUTSTANDING 2014/2024 ("WARRANTS A") AS SPECIFIED IN THE DEED POLL CONSTITUTING THE WARRANTS A DATED 17 MARCH 2014 ("DEED POLL A") ("ADJUSTMENTS") ARISING FROM THE CONSOLIDATION OF EVERY 3 ORDINARY SHARES IN ASIA BIOENERGY TECHNOLOGIES BERHAD ("ABT" OR THE "COMPANY") ("SHARES") INTO 1 SHARE ("CONSOLIDATED SHARE") AT 5.00 P.M. ON 5 JUNE 2017 ("SHARE CONSOLIDATION") ("BOOKS CLOSURE DATE") ("SHARE CONSOLIDATION").

Kindly be advised of the following : 

1)  The above Company's securities will be traded and quoted "Ex - Adjustment” as from: 1 Jun 2017
2)  The last date of lodgment : 5 Jun 2017

Remarks 1: Participating Organisations are to take note of the following adjustment on ASIA BIOENERGY TECHNOLOGIES BERHAD-WARRANTS A

The entitlement comprises the following:-

ADJUSTMENTS TO THE NUMBER AND EXERCISE PRICE OF OUTSTANDING 2014/2024 ("WARRANTS A") AS SPECIFIED IN THE DEED POLL CONSTITUTING THE WARRANTS A DATED 17 MARCH 2014 ("DEED POLL A") ("ADJUSTMENTS") ARISING FROM THE CONSOLIDATION OF EVERY 3 ORDINARY SHARES IN ASIA BIOENERGY TECHNOLOGIES BERHAD ("ABT" OR THE "COMPANY") ("SHARES") INTO 1 SHARE ("CONSOLIDATED SHARE") AT 5.00 P.M. ON 5 JUNE 2017 ("SHARE CONSOLIDATION") ("BOOKS CLOSURE DATE") ("SHARE CONSOLIDATION").

In relation to the warrants adjustment on ASIABIO-WA as a SPEEDS Corporate Exercise, Bursa Malaysia Securities Berhad would like to highlight that:

(a) on or after the Ex-date on 1 June 2017, trading of ASIABIO-WA will be based on the newly adjusted warrants arising from the Warrants Adjustment,

(b) on the basis of settlement taking place after 5 June 2017 with adjusted  ASIABIO-WA,  an entitled warrants holder who owns ASIABIO-WA as at Ex-date may sell only up to maximum ASIABIO-WA he expects to receive after the adjustment, i.e. the reduced amount, on or after the Ex-date 1 June 2017

With the warrants adjustment pursuant to the Share Consolidation effected on ASIABIO-WA holders’ CDS account at the end of the Entitlement Date (“Books Closure Date”), an entitled ASIABIO-WA holder may use the following basis to estimate the maximum number of ASIABIO-WA that he may sell from the Ex-date until the Book Closing Date which is from 1 June 2017 until 5 June 2017.

Number of ASIABIO-WA that   may be sold on        =                         Number of shares held / 3

1 June 2017 until 5 June 2017                                             (All fractional warrants computed should be disregarded)

Illustration:

For example, if Mr X owns or purchases 1000 ASIABIO-WA on cum basis on 31 May 2017, his CDS account would still show 1000 ASIABIO-WA until 5 June 2017. However, as a result of the above warrants adjustment, Mr X’s 1000 ASIABIO-WA in his CDS account will be adjusted to 333 ASIABIO-WA on the night of 5 June 2017 which is the Book Closing Date. Therefore Mr X may, if he so wishes, sells only up to 333 ASIABIO-WA on or after the Ex-date i.e. from 1 June 2017 onwards.

Participating Organisations are hereby requested to caution all dealers and remisiers that, during the period from 1 June 2017 until 5 June 2017, they are only entitled to sell the maximum of 1/3 of the shares owned (all fractional shares computed should be disregarded) 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 number and exercise price of outstanding Warrants A which are not exercised prior to the Books Closure Date will be adjusted in accordance with the provisions of the Deed Poll A. The Warrants A will be consolidated on the basis of every 3 Warrants A held by the entitled holders of Warrants A of the Company (whose names appear in the Record of Depositors at 5.00 p.m. on the Books Closure Date) into 1 Warrant A ("Consolidated Warrants A"). Fractional entitlements arising from the Adjustments, if any, will be disregarded and/or shall be dealt with by the Board of Directors of the Company ("Board") in such manner as the Board in its absolute discretion deems fit and expedient or in the best interest of the Company. The actual number of Consolidated Warrants A to be issued and allotted would depend on the number of outstanding Warrants A which have yet to be exercised into new Shares as at the Books Closure Date. Pursuant to the Adjustments, the existing exercise price of Warrants A of RM0.10 each will be revised to RM0.30 each. The Consolidated Warrants A will be listed and quoted on the ACE Market of Bursa Malaysia Securities Berhad ("Bursa Securities") on 6 June 2017, being the next market day following the Books Closure 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 in due course.