VC-PA

Adjustment

VORTEX CONSOLIDATED BERHAD

Entitlement subject Adjustment
Entitlement description
ADJUSTMENTS TO THE CONVERSION PRICE OF IRREDEEMABLE CONVERTIBLE PREFERENCE SHARES IN VORTEX CONSOLIDATED BERHAD ("VORTEX" OR "COMPANY") ("ICPS"), CASH PAYMENT FOR CONVERSION OF ICPS AND NUMBER OF OUTSTANDING ICPS PURSUANT TO THE RENOUNCEABLE RIGHTS ISSUE OF UP TO 364,478,577 NEW ORDINARY SHARES IN VORTEX ("VORTEX SHARE(S)" OR "SHARE(S)") ("RIGHTS SHARE(S)") ON THE BASIS OF 1 RIGHTS SHARE FOR EVERY 1 EXISTING SHARE HELD AS AT 5.00 P.M. ON 30 MARCH 2021 ("ENTITLEMENT DATE") AT AN ISSUE PRICE OF RM0.17 PER RIGHTS SHARE, TOGETHER WITH UP TO 291,582,861 FREE DETACHABLE WARRANTS C ("WARRANTS C") ON THE BASIS OF 4 WARRANTS C FOR EVERY 5 RIGHTS SHARES SUBSCRIBED FOR ("RIGHTS ISSUE")
EX-date 29 Mar 2021
Entitlement date 30 Mar 2021
Entitlement time 5:00 PM
Financial Year End 31 Mar 2021
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 30 Mar 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 0.2484 : 1.0000
Rights Issue/Offer Price
Par Value (if applicable)
Registrar or Service Provider name, address, telephone no TRICOR INVESTOR & ISSUING HOUSE SERVICES SDN BHD
Unit 32-01, Level 32, Tower A,
Vertical Business Suite, Avenue 3, Bangsar South,

No. 8, Jalan Kerinchi

59200 Kuala Lumpur

Wilayah Persekutuan

Malaysia

Tel:03-2783 9299
Fax:03-2783 9222


Remarks :
The Notice of Book Closure in relation to the Rights Issue had been announced by the Company separately today.
Pursuant to the Rights Issue, the conversion price of ICPS, cash payment for conversion of ICPS and number of outstanding ICPS (which are not converted into new Vortex Shares prior to the Entitlement Date) shall be adjusted in accordance with the provisions of the Company's Constitution ("Adjustments").
Holders of ICPS who wish to be entitled to the Rights Issue as the Company's shareholders shall exercise their rights to subscribe for new Vortex Shares by lodging their duly completed conversion forms together with the relevant subscription monies with the Share Registrar of Vortex (at the address stated above) on or before 5.00 p.m. on Thursday, 18 March 2021 such that their names will appear on the Record of Depositors of the Company at 5.00 p.m. on the Entitlement Date.
Entitled holders of ICPS who do not convert their outstanding ICPS into Vortex Share and whose names appear in the Record of Depositors of the Company for the outstanding ICPS at 5.00 p.m. on the Entitlement Date would be entitled to the Adjustments ("Entitled ICPS Holders").
The entitlement ratio indicated above is for illustration only based on the latest issued share capital of the Company and assuming all entitled shareholders subscribe for their respective entitlements under the Rights Issue. The actual number of additional ICPS to be issued as well as the adjusted conversion price of ICPS and cash payment for conversion of ICPS pursuant to the Adjustments shall be finalised at a later date prior to the listing of and quotation of the additional ICPS on the ACE Market of Bursa Malaysia Securities Berhad ("Bursa Securities").
The additional ICPS will be listed and quoted simultaneously with the Rights Shares and Warrants C on the ACE Market of Bursa Securities. A notice of allotment or an electronic notice of allotment of the additional ICPS will be despatched or sent to the Entitled ICPS Holders. The notice setting out the details of the Adjustments will be issued and despatched to the Entitled ICPS Holders in due course. 
This announcement is dated 16 March 2021.


Announcement Info

Company Name VORTEX CONSOLIDATED BERHAD
Stock Name VC-PA
Date Announced 16 Mar 2021
Category Entitlement(Notice of Book Closure)
Reference Number ENT-16032021-00003


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