FINTEC-PA

Adjustment

FINTEC GLOBAL BERHAD

Entitlement subject Adjustment
Entitlement description
ADJUSTMENTS TO THE CONVERSION PRICE, CASH PAYMENT FOR CONVERSION AND NUMBER OF OUTSTANDING IRREDEEMABLE CONVERTIBLE PREFERENCE SHARES OF FINTEC GLOBAL BERHAD ("FINTEC" OR THE "COMPANY") ("ICPS") PURSUANT TO THE CONSOLIDATION OF EVERY 30 EXISTING ORDINARY SHARES IN FINTEC ("FINTEC SHARES" OR "SHARES") INTO 1 FINTEC SHARE ("CONSOLIDATED SHARE") HELD AT 5.00 P.M. ON 8 MAY 2024 ("ENTITLEMENT DATE") ("SHARE CONSOLIDATION") ("ADJUSTMENTS")
EX-date 07 May 2024
Entitlement date 08 May 2024
Entitlement time 5:00 PM
Financial Year End 30 Jun 2024
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 08 May 2024
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 : 30.0000
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 Adjustments will take place for the outstanding ICPS which are not converted into new Shares prior to the Entitlement Date.

The outstanding ICPS will be consolidated on the basis of every 30 ICPS held by the entitled ICPS holders (whose names appear in the Record of Depositors at 5.00 p.m. on the Entitlement Date) ("Entitled ICPS Holders") into 1 ICPS ("Consolidated ICPS").

Fractional entitlements arising from the Adjustments, 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.

Pursuant to the Adjustments, the existing number of 218,370,885 ICPS will be adjusted into a maximum number of 7,279,029 Consolidated ICPS to be issued and allotted to the Entitled ICPS Holders. The actual number of Consolidated ICPS to be issued and allotted would depend on the number of outstanding ICPS which are not converted into new Fintec Shares as at the Entitlement Date. 

Pursuant to the Adjustments, the conversion price and cash payment for conversion of ICPS will be adjusted as follows:

(a)	existing conversion price of ICPS of RM0.11 will be revised to RM3.30; and 
(b)	existing cash payment for conversion of lCPS (based on the conversion mode of surrendering 1 ICPS with additional cash payment for 1 new Fintec Share) of RM0.03 will be revised to RM0.90.

The Consolidated ICPS 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.

The notice of allotment for the Consolidated ICPS will be despatched to the Entitled ICPS Holders not later than 4 market days after the date of listing and quotation of the Consolidated ICPS on Bursa Securities. The notice to the Entitled ICPS Holders (setting out the details of the Adjustments) will be despatched to the Entitled ICPS Holders in due course.

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

Holders of outstanding ICPS who wish to be entitled to the Share Consolidation should convert their ICPS by lodging their duly completed conversion forms together with the relevant subscription monies with the Share Registrar, Tricor Investor & Issuing House Services Sdn Bhd, on or before 5.00 p.m. on 26 April 2024. This is to enable the new Shares arising from such conversion to be allotted to the respective ICPS holders such that their names will appear on the Record of Depositors of the Company by 5.00 p.m. on 8 May 2024.

This announcement is dated 22 April 2024.


Announcement Info

Company Name FINTEC GLOBAL BERHAD
Stock Name FINTEC-PA
Date Announced 22 Apr 2024
Category Entitlement(Notice of Book Closure)
Reference Number ENT-17042024-00006


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