ECONBHD-CE - Notice of Book Closure

ADJUSTMENT TO THE TERMS AND CONDITIONS OF THE EUROPEAN STYLE NON-COLLATERALISED CASH SETTLED CALL WARRANTS OVER ORDINARY SHARES OF ECONPILE HOLDINGS BERHAD ("ECONBHD") ("ECONBHD SHARES") ("ECONBHD-CE") PURSUANT TO THE SHARE SPLIT INVOLVING THE SUBDIVISION OF EVERY ONE (1) EXISTING ECONBHD SHARES INTO TWO (2) ECONBHD SHARES ("SPLIT SHARES") HELD AS AT 5.00 P.M. ON 28 DECEMBER 2017 ("ENTITLEMENT DATE") ("SHARE SPLIT") AND BONUS ISSUE OF 267,500,005 NEW SPLIT SHARES ("BONUS SHARES") TO BE CREDITED AS FULLY PAID-UP ON THE BASIS OF ONE (1) BONUS SHARES FOR EVERY FOUR (4) SPLIT SHARES HELD AS AT 5.00 P.M. ON ENTITLEMENT DATE ("BONUS ISSUE").

Kindly be advised of the following : 

1)  The above Company's securities will be traded and quoted "Ex - Adjustment” as from: 26 Dec 2017
2)  The last date of lodgment : 28 Dec 2017.

Remarks:- (Unless otherwise defined in this announcement, the definitions contained in the announcement dated 7 September 2017 shall apply throughout this announcement) Reference is also made to the base prospectus dated 1 December 2016 (Base Prospectus), the first supplementary base prospectus dated 3 April 2017 (First Supplementary Base Prospectus), the second supplementary base prospectus dated 1 August 2017 (Second Supplementary Base Prospectus) and the Term Sheet governing the terms and conditions of the ECONBHD-CE dated 3 August 2017. Please note that there will not be any new issuance of ECONBHD-CE on the Entitlement Date pursuant to the Share Split and Bonus Issue. In accordance with Schedule 3 of the Deed Poll dated 25 November 2016, the terms and conditions of the ECONBHD-CE shall be correspondingly adjusted based on the formula as set below: 1. Share Split Adjustment Adjusted Exercise Price = (X x N) / P Adjusted Warrant Component/Exercise Ratio = (E x P) / N Where, X = RM2.90, being the existing Exercise Price of ECONBHD-CE immediately prior to the Share Split. N = RM0.50, being the revised par value after the Share Split P= RM1.00, being the existing par value immediately prior to the Share Split E = 0.25 (4 ECONBHD-CE to 1 ECONBHD Share), being the existing Warrant Component of ECONBHD-CE immediately prior to the Share Split Based on the formula above, the Exercise Price of ECONBHD-CE will be adjusted from RM2.90 to RM1.45 and the Warrant Component / Exercise Ratio of ECONBHD-CE will be adjusted from 0.25 (4 ECONBHD-CE to 1 ECONBHD Share) to 0.50 (2 ECONBHD-CE to 1 ECONBHD Share). 2. Bonus Issue Adjustment Adjusted Exercise Price = X / (1+N) Adjusted Warrant Component/Exercise Ratio = (1+N) x E where, X = RM1.45, being the existing Exercise Price of ECONBHD-CE immediately prior to the Bonus Issue. N = 0.25, being the number of new ECONBHD Share (whether a whole or fraction) per existing ECONBHD Share each holder thereof is entitled. E = 0.50 (2 ECONBHD-CE to 1 ECONBHD Share), being the existing Warrant Component of ECONBHD-CE immediately prior to the Bonus Issue. Based on the formula above, the Exercise Price of ECONBHD-CE will be adjusted from RM1.45 to RM1.16 and the Warrant Component / Exercise Ratio of ECONBHD-CE will be adjusted from 0.50 (2 ECONBHD-CE to 1 ECONBHD Share) to 0.6250 (1.6 ECONBHD-CE to 1 ECONBHD Share). The actual adjustments to ECONBHD-CE will take effect immediately on 26 December 2017, Ex-date of Share Split and Bonus Issue announced by ECONBHD.