LAMBO-WB

Adjustment

LAMBO GROUP BERHAD

Entitlement subject Adjustment
Entitlement description
ADJUSTMENTS TO THE EXERCISE PRICE AND NUMBER OF OUTSTANDING WARRANTS 2019 / 2024 OF LAMBO GROUP BERHAD ("LAMBO" OR THE "COMPANY") ("WARRANTS B") AS SPECIFIED IN THE DEED POLL DATED 15 APRIL 2019 ("DEED POLL B") PURSUANT TO THE CONSOLIDATION OF EVERY 25 EXISTING ORDINARY SHARES IN LAMBO ("LAMBO SHARES" OR "SHARES") HELD AT 5.00 P.M. ON 26 JULY 2021 ("ENTITLEMENT DATE") INTO 1 LAMBO SHARE ("CONSOLIDATED SHARE") ("SHARE CONSOLIDATION") ("ADJUSTMENTS")
EX-date 23 Jul 2021
Entitlement date 26 Jul 2021
Entitlement time 5:00 PM
Financial Year End 31 May 2022
Period of interest payment   to  
Share transfer book & register of members will be   to   closed from (both dates inclusive) for the purpose of determining the entitlement
Payment date
a.Securities transferred into the Depositor's Securities Account before 4:30 pm in respect of transfers 26 Jul 2021
b.Securities deposited into the Depositor's Securities Account before 12:30 pm in respect of securities exempted from mandatory deposit
c. Securities bought on the Exchange on a cum entitlement basis according to the Rules of the Exchange.
Number of new shares/securities issued (units)
(If applicable)
Entitlement indicator Ratio
Ratio 1.0000 : 25.0000
Rights Issue/Offer Price
Par Value (if applicable)
Registrar or Service Provider name, address, telephone no SHAREWORKS SDN BHD
No. 2-1, Jalan Sri Hartamas 8
Sri Hartamas

50480 Kuala Lumpur

Wilayah Persekutuan

Malaysia

Tel:0362011120
Fax:0362013121


Remarks :
Pursuant to the Share Consolidation, the exercise price and number 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 25 Warrants B held by the entitled holders of Warrants B (whose names appear in the Record of Depositors for the Warrants B at 5.00 p.m. on the Entitlement Date) into 1 Warrant B ("Consolidated Warrant B"). 

Fractional entitlements arising from the Adjustments, if any, shall be disregarded and/or 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 interests of the Company.

Pursuant to the Adjustments, the existing number of Warrants B will be adjusted into a maximum number of 42,042,359 Consolidated Warrants B to be issued and allotted to the entitled holders. The actual number of Consolidated Warrants B to be issued and allotted would depend on the number of outstanding Warrants B which have yet to be exercised into new Shares as at the Entitlement Date.

Further, the existing exercise price of Warrants B of RM0.16 each will be revised to RM4.00 each pursuant to the Adjustments.

The Consolidated Warrants B will be listed and quoted on the ACE Market of Bursa Malaysia Securities Berhad ("Bursa Securities") on 27 July 2021, being the next market day following the Entitlement Date.

The notices 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 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 the Warrants B will be adjusted accordingly in proportion to the basis of the Share Consolidation. The holders of Warrants B are strongly advised to trade cautiously to prevent overselling of their position in respect of the Warrants B held.

This announcement is dated 9 July 2021.


Announcement Info

Company Name LAMBO GROUP BERHAD
Stock Name LAMBO-WB
Date Announced 09 Jul 2021
Category Entitlement(Notice of Book Closure)
Reference Number ENT-09072021-00003


View original