Entitlement(Notice of Book Closure)
09/04/2021Adjustment
| SKPRES-CX: CW SKP RESOURCES BHD (AM) |
| Entitlement subject | Adjustment |
| Entitlement description | ADJUSTMENT TO THE TERMS AND CONDITIONS OF THE EUROPEAN STYLE NON-COLLATERALISED CASH-SETTLED CALL WARRANTS OVER ORDINARY SHARES OF SKP RESOURCES BHD ("SKPRES") ("SKPRES SHARES") ("SKPRES-CX") PURSUANT TO BONUS ISSUE OF 312,547,137 NEW ORDINARY SHARES IN SKPRES ("BONUS SHARES") ON THE BASIS OF 1 BONUS SHARE FOR EVERY 4 EXISTING SKPRES SHARES ("BONUS ISSUE") AND FREE WARRANTS ISSUE OF UP TO 250,037,709 FREE WARRANTS IN SKPRES ("WARRANTS B") ON THE BASIS OF 1 WARRANT B FOR EVERY 5 EXISTING SKPRES SHARES ("FREE WARRANTS ISSUE"), HELD AT 5.00 P.M. ON 22 APRIL 2021 ("ENTITLEMENT DATE") |
| EX-date | 21 Apr 2021 |
| Entitlement date | 22 Apr 2021 |
| Entitlement time | 5:00 PM |
| Financial Year End | |
| 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 | 22 Apr 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 | 0.0000 : 0.0000 |
| 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 : |
Reference is also made to the base prospectus dated 13 August 2020 ("Base Prospectus") and the Term Sheet governing the terms and conditions of the SKPRES-CX dated 14 August 2020.
The terms and conditions of the SKPRES-CX shall be correspondingly adjusted based on the formulas below:
(a) Adjustment pursuant to the Bonus Issue
Exercise Price
The Exercise Price for the SKPRES-CX will be adjusted as determined by the following formula:-
Adjusted Exercise Price = X / (1+N)
Exercise Ratio
The Exercise Ratio for the SKPRES-CX will be adjusted as determined by the following formula:-
Adjusted Exercise Ratio = E / (1+N)
where,
X = RM1.60, being the existing Exercise Price of SKPRES-CX immediately prior to the Bonus Issue.
N = 1/4, being the number of additional SKPRES Share (whether a whole or fraction) received by a holder of existing SKPRES Share held prior to the Bonus Issue.
E = 5, being the existing Exercise Ratio of SKPRES immediately prior to the Bonus Issue.
(b) Adjustment pursuant to the Free Warrants Issue
The adjustment pursuant to the Free Warrant Issue shall take effect after the Exercise Price and Exercise Ratio had been adjusted pursuant to the Bonus Issue.
Exercise Price
The Exercise Price for the SKPRES-CX will be adjusted as determined by the following formula:-
Adjusted Exercise Price = [ ( 1 + (R/S) x M ) / (1 + M ) ] x X
Exercise Ratio
The Exercise Ratio for the SKPRES-CX will be adjusted as determined by the following formula:-
Adjusted Exercise Ratio = [ ( 1 + (R/S) x M ) / (1 + M ) ] x E
where,
E: being the existing Exercise Ratio of SKPRES-CX immediately after the adjustment for the Bonus Issue and prior to the Free Warrant Issue.
S: being the last traded price of SKPRES on the last Market Day on which SKPRES is traded on cum-entitlement basis after taking into account the adjustments made pursuant to the Bonus Issue.
R: RM3.00, being the exercise price per Warrant B under the Free Warrant Issue.
M: 0.20, being the number of free warrant in SKPRES (whether a whole or a fraction) per existing SKPRES Share each holder thereof is entitled to, after taking into consideration the additional new SKPRES Shares received under the Bonus Issue.
X: being the adjusted Exercise Price of SKPRES-CX after taking into account the adjustments made pursuant to the Bonus Issue.
The Exercise Ratio or the Exercise Price shall be adjusted pursuant to Bonus Issue. Subsequently, the Exercise Ratio or the Exercise Price shall then be adjusted pursuant to Free Warrant Issue if:-
i) the Free Warrants Issue is theoretically in-the-money; and
ii) the adjustment would amount to greater than or equal to 2% of the Exercise Ratio or the Exercise Price being changed.
We shall make the announcement on the actual adjustments to SKPRES-CX on the Last Cum Date.
This announcement is dated 09 April 2021 |
Announcement Info
| Company Name | SKPRES-CX: CW SKP RESOURCES BHD (AM) |
| Stock Name | SKPRES-CX |
| Date Announced | 09 Apr 2021 |
| Category | Entitlement(Notice of Book Closure) |
| Reference Number | ENT-09042021-00002 |