TIGER-WC - Notice of Book Closure

TIGER SYNERGY BERHAD ("TSB" OR "COMPANY") ADJUSTMENTS TO THE EXERCISE PRICE AND THE NUMBER OF OUTSTANDING WARRANTS 2016/2021 OF THE COMPANY CONSTITUTED BY THE DEED POLL DATED 31 DECEMBER 2015 ("DEED POLL 2016/2021") ("WARRANTS 2016/2021") PURSUANT TO THE SHARE CONSOLIDATION OF EVERY 4 EXISTING ORDINARY SHARES IN TSB ("TSB SHARE" OR "SHARE") INTO 1 NEW TSB SHARE ("CONSOLIDATED SHARE") AT 5.00 P.M. ON 5 JUNE 2018 ("ENTITLEMENT DATE") ("ADJUSTMENTS") ("SHARE CONSOLIDATION").

Kindly be advised of the following : 

1)  The above Company's securities will be traded and quoted "Ex - Adjustment” as from: 1 Jun 2018
2)  The last date of lodgment : 5 Jun 2018

Remarks 1: Participating Organisations are to take note of the following Share Consolidation exercise by TIGER SYNERGY BERHAD-WARRANT C

The Share Consolidation comprises the following:-

ADJUSTMENTS TO THE EXERCISE PRICE AND THE NUMBER OF OUTSTANDING WARRANTS 2013/2018 OF THE COMPANY CONSTITUTED BY THE DEED POLL DATED 18 NOVEMBER 2013 ("DEED POLL 2013/2018") ("WARRANTS 2013/2018") PURSUANT TO THE SHARE CONSOLIDATION OF EVERY 4 EXISTING ORDINARY SHARES IN TSB ("TSB SHARE" OR "SHARE") INTO 1 NEW TSB SHARE ("CONSOLIDATED SHARE") AT 5.00 P.M. ON 5 JUNE 2018 ("ENTITLEMENT DATE") ("ADJUSTMENTS") ("SHARE CONSOLIDATION").

In relation to the Share Consolidation undertaken by TIGER-WC as a SPEEDS Corporate Exercise, Bursa Malaysia Securities Berhad would like to highlight that:

(a) on or after the Ex-date on 1 June 2018, trading of TIGER-WC shares will be based on the newly adjusted warrants arising from the Warrants Adjustment,

(b) on the basis of settlement taking place after 5 June 2018 with adjusted TIGER-WC, an entitled warrants holder who owns TIGER-WC shares as at Ex-date may sell only up to the maximum TIGER-WC shares he expects to receive after the adjustment, i.e. the reduced amount, on or after the Ex-date 1 June 2018.

With the warrants adjustments pursuant to the Share Consolidation effected on TIGER-WC shareholders’ CDS account at the end of the Entitlement Date (“Books Closure Date”), an entitled TIGER-WC shareholder may use the following basis to estimate the maximum number of TIGER-WC shares that he may sell from the Ex-date until the Book Closing Date which is from 1 June 2018 until 5 June 2018.

Number of TIGER-WC shares that may be sold             =                      Number of shares held x 0.25

on 1 June 2018 until 5 June 2018                                           (All fractional shares computed should be disregarded)    

Illustration:

For example, if Mr X owns or purchases 1000 TIGER-WC shares on cum basis on 31 May 2018, his CDS account would still show 1000 TIGER-WC shares until 5 June 2018. However, as a result of the above warrants adjustment, Mr X’s 1000 TIGER-WC shares of in his CDS account will be adjusted to 250 TIGER-WC on the night of 5 June 2018 which is the Book Closing Date. Therefore, Mr X may, if he so wishes, sells only up to 250 TIGER-WC shares on or after the Ex-date i.e. from 1 June 2018 onwards.

Participating Organisations are hereby requested to caution all dealers and remisiers that, during the period from 1 June 2018 until 5 June 2018, they are only entitled to sell the maximum of 25% of the shares owned before the Ex-date. Participants Organisations are reminded that it is important to caution all dealers and remisiers on the above to prevent the dealers and remisiers from overselling of their client’s position.

Remarks 2: Following the Share Consolidation, the exercise price and the number of outstanding Warrants 2016/2021 shall be adjusted in accordance with the provisions of the Deed Poll 2016/2021. Pursuant to the Adjustments, the outstanding Warrants 2016/2021 will be consolidated on the basis of every 4 outstanding Warrants 2016/2021 held by the entitled holders of Warrants 2016/2021 (whose names appear in the Record of Depositors at 5.00 p.m. on the Entitlement Date) into 1 Warrant 2016/2021 ("Consolidated Warrant"). The resulting number of Consolidated Warrants will be rounded down to the nearest whole number. The actual number of Consolidated Warrants to be allotted and issued would depend on the number of outstanding Warrants 2016/2021 which have yet to be exercised into new TSB Shares as at the Entitlement Date. Pursuant to the Adjustments, the existing exercise price of the outstanding Warrants 2016/2021 of RM0.08 each will be revised to RM0.32 each. The Consolidated Warrants will be listed and quoted simultaneously with the Consolidated Shares on the Main Market of Bursa Securities on 6 June 2018, being the next market day following the Entitlement Date. The notice to the holders of outstanding Warrants 2016/2021 (setting out the details of the Adjustments and the Consolidated Warrants to be issued pursuant to the Share Consolidation) as well as the notice of allotment of the Consolidated Warrants will be despatched in due course. Holders of outstanding Warrants 2016/2021 who wish to be entitled to the Share Consolidation should exercise their outstanding Warrants 2016/2021 by lodging their duly completed exercise forms together with the subscription monies with TSB's share registrar on or before 5.00 p.m. on 24 May 2018 for their names to appear on the Record of Depositors at 5.00 p.m. on the Entitlement Date.