HIBISCS
Share Consolidation
| HIBISCUS PETROLEUM BERHAD |
| Entitlement subject | Share Consolidation |
| Entitlement description | CONSOLIDATION OF EVERY 5 EXISTING ORDINARY SHARES IN HIBISCUS PETROLEUM BERHAD ("HIBISCUS PETROLEUM" OR "COMPANY") ("HIBISCUS PETROLEUM SHARES") HELD AS AT 5.00 P.M. ON 19 OCTOBER 2023 INTO 2 NEW HIBISCUS PETROLEUM SHARES ("CONSOLIDATED SHARES") ("SHARE CONSOLIDATION") |
| Ex-Date | 18 Oct 2023 |
| Entitlement date | 19 Oct 2023 |
| Entitlement time | 5:00 PM |
| Financial Year End | 30 Jun 2024 |
| Share transfer book & register of members will be | to closed from (both dates inclusive) for the purpose of determining the entitlement |
| a.Securities transferred into the Depositor's Securities Account before 4:30 pm in respect of transfers | 19 Oct 2023 |
| 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 |
| Par Value (if applicable) | |
Entitlement Details
| Company Name | Ratio (New : Existing) |
Available/Listing Date | Fractional Entitlement |
| HIBISCUS PETROLEUM BERHAD | 2.0000 : 5.0000 | 20 Oct 2023 | Round Down / Fraction Disregard |
| 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 Share Consolidation entails the consolidation of every 5 existing Hibiscus Petroleum Shares held by the shareholders whose names appear in the Record of Depositors of the Company as at 5:00 pm on 19 October 2023 ("Entitlement Date") ("Entitled Shareholders") into 2 Consolidated Shares.
The actual number of Consolidated Shares and consolidated treasury shares, if any, to be issued arising from the Share Consolidation would depend on the total number of issued Hibiscus Petroleum Shares and the total number of Hibiscus Petroleum Shares repurchased by the Company pursuant to the Company's shareholders' mandate for a share buy-back exercise, respectively, as at the Entitlement Date.
Fractional entitlements arising from the Share Consolidation, 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.
The Consolidated Shares will be listed and quoted on the Main Market of Bursa Malaysia Securities Berhad on 20 October 2023 ("Listing Date"), being the next market day after the Entitlement Date for the Share Consolidation. The notices of allotment of the Consolidated Shares will be issued and despatched to the Entitled Shareholders within 4 market days after the Listing Date.
The Share Consolidation will result in a reduction in the number of Hibiscus Petroleum Shares available in the market and the trading price of the Hibiscus Petroleum Shares will be adjusted accordingly in proportion to the basis of the Share Consolidation. The shareholders of the Company are strongly advised to trade cautiously to prevent overselling of their position in respect of their Hibiscus Petroleum Shares held.
This announcement is dated 5 October 2023. |
Announcement Info
| Company Name | HIBISCUS PETROLEUM BERHAD |
| Stock Name | HIBISCS |
| Date Announced | 05 Oct 2023 |
| Category | Entitlement(Notice of Book Closure) |
| Reference Number | ENT-04102023-00002 |
| Corporate Action ID | MY231004SPLR0001 |