EDUSPEC-WB
Adjustment
| EDUSPEC HOLDINGS BERHAD |
| Entitlement subject | Adjustment |
| Entitlement description | Adjustments to the number and exercise price of outstanding 5-year warrants 2019/2024 ("Warrants B") as specified in the deed poll dated 6 September 2019 ("Deed Poll B") ("Adjustments"), as a consequence of the consolidation of every 2 existing ordinary shares in Eduspec Holdings Berhad ("Eduspec" or the "Company") ("Eduspec Shares") into 1 Eduspec Share at 5.00 p.m. on 26 August 2020 ("Entitlement Date") ("Share Consolidation") |
| EX-date | 25 Aug 2020 |
| Entitlement date | 26 Aug 2020 |
| Entitlement time | 5:00 PM |
| Financial Year End | 28 Feb 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 | 26 Aug 2020 |
| 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 : 2.0000 |
| 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:0327839299 Fax:0327839222 |
| Remarks : |
Pursuant to the Share Consolidation, the number and exercise price 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 2 Warrants B held by the entitled holders of Warrants B of the Company (whose names appear in the Record of Depositors at 5.00 p.m. on the Entitlement Date) into 1 Warrant B ("Consolidated Warrants B").
Fractional entitlements arising from the Adjustments, if any, shall be disregarded and/or dealt with by the Board of Directors of the Company ("Board") in such manner at its absolute discretion as it may deem fit and expedient or 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 275,453,371 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 Eduspec Shares as at the Entitlement Date.
Further, the existing exercise price of Warrants B of RM0.05 each will be revised to RM0.10 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 August 2020, 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.
This announcement is dated 11 August 2020. |
Announcement Info
| Company Name | EDUSPEC HOLDINGS BERHAD |
| Stock Name | EDUSPEC-WB |
| Date Announced | 11 Aug 2020 |
| Category | Entitlement(Notice of Book Closure) |
| Reference Number | ENT-11082020-00010 |