DPS-WB - Notice of Book Closure

ADJUSTMENTS TO THE EXERCISE PRICE AND NUMBER OF OUTSTANDING WARRANTS 2015/2025 IN DPS RESOURCES BERHAD ("DPS" OR "COMPANY") AS CONSTITUTED BY THE DEED POLL DATED 9 DECEMBER 2014 AND SUPPLEMENTED BY A DEED POLL DATED 29 AUGUST 2022 ("DEED POLL B") ("WARRANTS B") PURSUANT TO THE CONSOLIDATION OF EVERY 5 EXISTING ORDINARY SHARES IN DPS ("DPS SHARE(S)") HELD AS AT 5.00 P.M. ON 25 JULY 2023 ("ENTITLEMENT DATE") INTO 1 DPS SHARE ("SHARE CONSOLIDATION")
 

Kindly be advised of the following : 

1)  The above Company's securities will be traded and quoted "Ex - Adjustment” as from: 24 Jul 2023
2)  The last date of lodgment : 25 Jul 2023
 

Remarks 1 :

Participating Organisations are to take note of the following Share Consolidation exercise by DPS RESOURCES BERHAD - WARRANTS B 2015/2025.

The Share Consolidation comprises the following: -

ADJUSTMENTS TO THE EXERCISE PRICE AND NUMBER OF OUTSTANDING WARRANTS 2015/2025 IN DPS RESOURCES BERHAD ("DPS" OR "COMPANY") AS CONSTITUTED BY THE DEED POLL DATED 9 DECEMBER 2014 AND SUPPLEMENTED BY A DEED POLL DATED 29 AUGUST 2022 ("DEED POLL B") ("WARRANTS B") PURSUANT TO THE CONSOLIDATION OF EVERY 5 EXISTING ORDINARY SHARES IN DPS ("DPS SHARE(S)") HELD AS AT 5.00 P.M. ON 25 JULY 2023 ("ENTITLEMENT DATE") INTO 1 DPS SHARE ("SHARE CONSOLIDATION")

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

1. on or after the Ex-date on 24 Jul 2023, trading of DPS-WB shares will be based on the newly adjusted warrants arising from warrants adjustments,
2. on the basis of settlement taking place after 25 Jul 2023 with adjusted DPS-WB shares, an entitled warrants holder who owns DPS-WB shares as at Ex-date may sell only up to the maximum DPS-WB shares he expects to receive after the adjustment, i.e. the reduced amount, on or after the Ex-date 24 Jul 2023.

With the warrants adjustments pursuant to the Share Consolidation effected on DPS-WB shareholders’ CDS account at the end of the Entitlement Date (“Books Closure Date”), an entitled DPS-WB shareholder may use the following basis to estimate the maximum number of DPS-WB shares that he may sell from the Ex-date until the Book Closing Date which is from 24 Jul 2023 until 25 Jul 2023.

Illustration:

For example, if Mr X owns or purchases 500 DPS-WB shares on cum basis on 21 Jul 2023, his CDS account would still show 500 DPS-WB shares until 25 Jul 2023. However, as a result of the above warrants adjustment, Mr X’s 500 DPS-WB shares in his CDS account will be adjusted to 100 DPS-WB shares on the night of 25 Jul 2023 which is the Book Closing Date. Therefore, Mr X may, if he so wishes, sells only up to 100 DPS-WB shares on or after the Ex-date i.e. from 24 Jul 2023 onwards.

Participating Organisations are hereby requested to caution all dealers and remisiers that, during the period from 24 Jul 2023 until 25 Jul 2023, 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 :

Pursuant to the Share Consolidation, the exercise price and number of outstanding Warrants B (which are not exercised into new DPS Shares on the Entitlement Date) shall be adjusted in accordance with the provisions of the Deed Poll B ("Adjustments").

The outstanding Warrants B will be consolidated on the basis of every 5 Warrants B held by the entitled holders of Warrants B (whose names appear in the Record of Depositors of the Company for Warrants B at 5.00 p.m. on the Entitlement Date) ("Entitled Warrant B Holders") into 1 Warrant B ("Consolidated Warrant(s) B"). Fractional entitlements for the Consolidated Warrants B arising from the Adjustments, if any, will 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, expedient and in the best interest of the Company.

Pursuant to the Adjustments, the existing number of 194,261,746 outstanding Warrants B will be adjusted into a maximum number of 38,852,349 Consolidated Warrants B to be issued and allotted to the Entitled Warrant B Holders. The actual number of Consolidated Warrants B to be issued and allotted would depend on the number of outstanding Warrants B which are not exercised into new DPS Shares on the Entitlement Date.

Further, pursuant to the Adjustments, the exercise price of the Warrants B of RM0.10 each will be revised to RM0.50 each.

The Consolidated Warrants B will be listed and quoted on the Main Market of Bursa Malaysia Securities Berhad on 26 July 2023 ("Listing Date"), being the next market day following the Entitlement Date.

The notice of allotment of the Consolidated Warrants B will be issued and despatched to the Entitled Warrants B Holders at the addresses set out in the Record of Depositors of the Company for Warrants B as at the Entitlement Date within 4 market days after the Listing Date. The notice setting out the details of the Adjustments will be issued and despatched to the Entitled Warrants B Holders in due course.

The Share Consolidation will result in a reduction in the number of Warrants B available in the market and the trading price of Warrants B will be adjusted accordingly in proportion to the basis of the Share Consolidation.

Holders of Warrants B who wish to be entitled to the Share Consolidation as the Company's shareholders shall exercise their rights to subscribe for new DPS Shares by lodging their duly completed exercise forms together with the relevant subscription monies with the Share Registrar of DPS (at the address stated above) on or before 5.00 p.m. on Tuesday, 11 July 2023 such that their names will appear in the Record of Depositors of the Company at 5.00 p.m. on the Entitlement Date.