FINTEC - Notice of Book Closure

CONSOLIDATION OF EVERY 30 EXISTING ORDINARY SHARES IN FINTEC GLOBAL BERHAD ("FINTEC" OR THE "COMPANY") ("FINTEC SHARES" OR "SHARES") INTO 1 FINTEC SHARE ("CONSOLIDATED SHARE") ("SHARE CONSOLIDATION")

Kindly be advised of the following :

1) The above Company's securities will be traded and quoted "Ex - Consolidation” as from: 07 May 2024
2) The last date of lodgment : 08 May 2024

Remarks 1: 
Participating Organisations are to take note of the following Share Consolidation exercise by FINTEC GLOBAL BERHAD.

The Share Consolidation comprises the following:-
CONSOLIDATION OF EVERY 30 EXISTING ORDINARY SHARES IN FINTEC GLOBAL BERHAD ("FINTEC" OR THE "COMPANY") ("FINTEC SHARES" OR "SHARES") INTO 1 FINTEC SHARE ("CONSOLIDATED SHARE") ("SHARE CONSOLIDATION")

In relation to the Share Consolidation undertaken by FINTEC as a SPEEDS Corporate Exercise, Bursa Malaysia Securities Berhad would like to highlight that:
 (a) on or after the Ex-date on 07 May 2024, trading of FINTEC shares will be based on the newly adjusted share after the Share Consolidation of FINTEC shares,
 (b) on the basis of settlement taking place after 08 May 2024 with consolidated FINTEC shares, any entitled shareholder who owns FINTEC shares as at Ex-date may sell only up to the maximum FINTEC shares he expects to receive after the Share Consolidation, i.e. the reduced amount, on or after the Ex-date 07 May 2024

With the adjustments pursuant to the Share Consolidation effected on FINTEC shareholders’ CDS account at the end of the Entitlement Date (“Books Closure   Date”), an entitled FINTEC  shareholder may use the following basis to estimate the maximum number of FINTEC  shares that he may sell from the Ex-date until the Book Closing Date which is from 07 May 2024 until 08 May 2024.
 
Number of FINTEC shares that may be                                =              Number of shares held / 30
sold from 07 May 2024 until 08 May 2024                  (All fractional shares computed should be disregarded)

Illustration:
For example, if Mr X owns or purchases 3000 FINTEC shares on cum basis on 06 May 2024, his CDS account would still show 3000 FINTEC  shares until 08 May 2024. However, as a result of the above Share Consolidation exercise, Mr X’s 3000 FINTEC  shares in his CDS account will be adjusted to 100 FINTEC shares on the night of 08 May 2024 which is the Book Closing Date. Therefore, Mr X may, if he so wishes, sells only up to 100 FINTEC  shares on or after the Ex-date i.e. from  07 May 2024 onwards.

Participating Organisations are hereby requested to caution all dealers and remisiers that, during the period from 07 May 2024 until 08 May 2024, they are only entitled to sell the maximum of 1/ 30 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 Share Consolidation involves the consolidation of every 30 existing Shares held as at 5.00 p.m. on 8 May 2024, being the entitlement date for the Share Consolidation, into 1 Consolidated Share. 

The actual number of Consolidated Shares will be determined based on the total number of issued shares of the Company on the entitlement date for the Share Consolidation.

Fractional entitlements arising from the Share Consolidation, 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 Consolidated Shares will be listed and quoted on the ACE Market of Bursa Malaysia Securities Berhad ("Bursa Securities") on 9 May 2024, being the next market day following the entitlement date for the Share Consolidation.

The notices of allotment of the Consolidated Shares will be issued and despatched to the entitled shareholders of the Company within 4 market days after the date of listing and quotation of the Consolidated Shares on the ACE Market of Bursa Securities.

The Share Consolidation will result in a reduction in the number of Shares available in the market and the trading price of the Shares will be adjusted accordingly in proportion to the basis of the Share Consolidation. The shareholders of the Company are strongly advised to trade cautiously to prevent overselling of their position in respect of the Shares held.