Adjustment
| VORTEX CONSOLIDATED BERHAD |
| Entitlement subject | Adjustment |
| Entitlement description | ADJUSTMENTS TO THE EXERCISE PRICE AND NUMBER OF OUTSTANDING WARRANTS 2019/2024 IN VORTEX CONSOLIDATED BERHAD ("VORTEX" OR "COMPANY") AS CONSTITUTED BY THE DEED POLL DATED 29 MARCH 2019 ("DEED POLL B") ("WARRANTS B") PURSUANT TO THE CONSOLIDATION OF EVERY 4 EXISTING ORDINARY SHARES IN VORTEX ("VORTEX SHARE(S)") HELD AS AT 5.00 P.M. ON 3 FEBRUARY 2021 ("ENTITLEMENT DATE") INTO 1 VORTEX SHARE ("SHARE CONSOLIDATION") |
| EX-date | 02 Feb 2021 |
| Entitlement date | 03 Feb 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 | 03 Feb 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 | 1.0000 : 4.0000 |
| 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 : |
Pursuant to the Share Consolidation, the exercise price and number of outstanding Warrants B (which are not exercised into new Vortex Shares prior to the Entitlement Date) shall be adjusted in accordance with the provisions of the Deed Poll B ("Adjustments").
The outstanding Warrants B will be consolidated on the basis of every 4 Warrants B held by the entitled holders of Warrants B of the Company (whose names appear in the Record of Depositors of the Company at 5.00 p.m. on the Entitlement Date) ("Entitled Warrant B Holders") into 1 Warrant B ("Consolidated Warrant(s) B"). Fractional entitlements for the Consolidated Warrants B 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 Warrants B of 59,053,778 Warrants B will be adjusted into a maximum number of 14,763,444 Consolidated Warrants B. The actual number of Consolidated Warrants B would depend on the number of outstanding Warrants B which are not exercised into new Vortex Shares prior to the Entitlement Date.
Further, pursuant to the Adjustments, the exercise price of Warrants B of RM0.15 each will be revised to RM0.60 each.
The Consolidated Warrants B will be listed and quoted on the ACE Market of Bursa Malaysia Securities Berhad on 4 February 2021 ("Listing Date"), being the next market day following the Entitlement Date.
The notice of allotment of the Consolidated Warrants B will be issued and despatched to the Entitled Warrants B Holders at the addresses set out in the Record of Depositors of the Company as at the Entitlement Date within 4 market days after the Listing Date. The notice setting out the details of the Adjustments will be issued and despatched to the Entitled Warrants B Holders in due course.
The Share Consolidation will result in a reduction in the number of Warrants B available in the market and the trading price of Warrants B will be adjusted accordingly in proportion to the basis of the Share Consolidation.
Holders of Warrants B who wish to be entitled to the Share Consolidation as the Company's shareholders shall exercise their rights to subscribe for new Vortex Shares by lodging their duly completed exercise 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 Tuesday, 19 January 2021 such that their names will appear in the Record of Depositors of the Company at 5.00 p.m. on the Entitlement Date.
This announcement is dated 18 January 2021. |
Announcement Info
| Company Name | VORTEX CONSOLIDATED BERHAD |
| Stock Name | VC-WB |
| Date Announced | 18 Jan 2021 |
| Category | Entitlement(Notice of Book Closure) |
| Reference Number | ENT-18012021-00007 |