MAG
Others
| KEY WEST GLOBAL TELECOMMUNICATIONS BERHAD |
|
EX-date | 10/02/2010 |
| Entitlement date | 12/02/2010 |
| Entitlement time | 05:00:00 PM |
| Entitlement subject | Others |
| Entitlement description | CAPITAL DISTRIBUTION OF 90 MILLION TIMES TELECOM INC ("TTI") SHARES TO ENTITLED SHAREHOLDERS OF KEY WEST GLOBAL TELECOMMUNICATIONS BERHAD ("KGTB") ON THE BASIS OF TWO (2) TTI SHARES FOR EVERY FIVE (5) ORDINARY SHARES OF RM0.10 EACH IN KGTB ("KGTB SHARE(S)") VIA THE CORRESPONDING CANCELLATION OF 90 MILLION KGTB SHARES ON THE BASIS OF TWO (2) KGTB SHARES FOR EVERY FIVE (5) KGTB SHARES HELD, AMOUNTING TO RM9.0 MILLION ("CAPITAL DISTRIBUTION") |
| Period of interest payment | to |
| Financial Year End | 31/01/2010 |
| Share transfer book & register of members will be | 12/02/2010 to closed from (both dates inclusive) for the purpose of determining the entitlements |
| Registrar's name ,address, telephone no | Securities Services (Holdings) Sdn Bhd Level 7, Menara Milenium, Jalan Damanlela Pusat Bandar Damansara Damansara Heights 50490, Kuala Lumpur Tel: +603- 2084 9000 |
| Payment date | |
| a.Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers | 12/02/2010 |
| 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 | 2 : 5 |
| Rights Issues/Offer Price | |
| Remarks : |
| The Capital Distribution is a component of the Proposed Listing of Times Telecom Inc, a wholly owned subsidiary of Key West Global Telecommunications Berhad on TSX Venture Exchange ("TSX.V") via the proposed demerger of TTI and its subsidiaries, as announced by AmInvestment Bank on behalf of KGTB on 26 June 2008. The approval for the aforementioned exercise has been obtained from the Securities Commission on 18 September 2008. Pursuant to the Capital Distribution, the entitled shareholders of KGTB will receive two (2) TTI shares for every five (5) ordinary shares of RM0.10 each in KGTB ("KGTB Share(s)") via the corresponding cancellation of 90 million KGTB Shares on the basis of two (2) KGTB Shares for every five (5) KGTB Shares held, amounting to RM9.0 million held as at 5.00 p.m on the Entitlement Date. Fractional entitlements and fractions of a share arising from the Capital Distribution will be dealt in such manner as the Board of Directors of KGTB deems fit. A Notice to Shareholders in relation to the aforementioned Entitlement Date will be despatched to KGTB's shareholders on 29 January 2010. Details and instructions in relation to the transfer and crediting of the TTI shares to the entitled shareholders of KGTB pursuant to the Capital Distribution will be set out in a separate form ("Notification Form") to be despatched not later than two (2) market days from the Entitlement Date. This announcement is dated 28 January 2010. |
Announcement Info
| Company Name | KEY WEST GLOBAL TELECOMMUNICATIONS BERHAD (ACE Market) |
| Stock Name | KEYWEST |
| Date Announced | 28 Jan 2010 |
| Category | Entitlements (Notice of Book Closure) |
| Reference No | MB-100126-54191 |