HWGB-WD - Notice of Book Closure

ADJUSTMENTS TO THE EXERCISE PRICE AND NUMBER OF OUTSTANDING WARRANTS 2016/2021 OF HO WAH GENTING BERHAD ("HWGB") ("WARRANTS D") CONSTITUTED BY A DEED POLL DATED 28 JANUARY 2016 ("DEED POLL") WHICH GOVERNS THE TERMS AND CONDITIONS OF WARRANTS D PURSUANT TO THE CONSOLIDATION OF 4 ORDINARY SHARES IN HWGB INTO 1 NEW ORDINARY SHARE IN HWGB ("CONSOLIDATED SHARE") AT 5.00 P.M. ON 7 MARCH 2018 ("ENTITLEMENT DATE") ("SHARE CONSOLIDATION") ("ADJUSTMENT").

Kindly be advised of the following : 

1)  The above Company's securities will be traded and quoted "Ex - Adjustment” as from: 5 Mar 2018
2)  The last date of lodgment : 7 Mar 2018

Remarks 1:

Participating Organisations are to take note of the following Share Consolidation exercise by HO WAH GENTING BERHAD-WARRANT D.

The Share Consolidation comprises the following:-

ADJUSTMENTS TO THE EXERCISE PRICE AND NUMBER OF OUTSTANDING WARRANTS 2016/2021 OF HO WAH GENTING BERHAD ("HWGB") ("WARRANTS D") CONSTITUTED BY A DEED POLL DATED 28 JANUARY 2016 ("DEED POLL") WHICH GOVERNS THE TERMS AND CONDITIONS OF WARRANTS D PURSUANT TO THE CONSOLIDATION OF 4 ORDINARY SHARES IN HWGB INTO 1 NEW ORDINARY SHARE IN HWGB ("CONSOLIDATED SHARE") AT 5.00 P.M. ON 7 MARCH 2018 ("ENTITLEMENT DATE") ("SHARE CONSOLIDATION") ("ADJUSTMENT").

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

(a) on or after the Ex-date on 5 March 2018, trading of HWGB-WD shares will be based on the newly adjusted warrants arising from the Warrants Adjustment,

(b) on the basis of settlement taking place after 7 March 2018 with adjusted HWGB-WD, an entitled warrants holder who owns HWGB-WD shares as at Ex-date may sell only up to the maximum HWGB-WD shares he expects to receive after the adjustment, i.e. the reduced amount, on or after the Ex-date 5 March 2018.

With the warrants adjustments pursuant to the Share Consolidation effected on HWGB-WD shareholders’ CDS account at the end of the Entitlement Date (“Books Closure Date”), an entitled HWGB-WD shareholder may use the following basis to estimate the maximum number of HWGB-WD shares that he may sell from the Ex-date until the Book Closing Date which is from 5 March 2018 until 7 March 2018.

Number of HWGB-WD shares that may be      =                  Number of shares held x 0.25

sold on 5 March 2018 until 7 March 2018               (All fractional shares computed should be disregarded)    

Illustration:

For example, if Mr X owns or purchases 1000 HWGB-WD shares on cum basis on 2 March 2018, his CDS account would still show 1000 HWGB-WD shares until 7 March 2018. However, as a result of the above warrants adjustment, Mr X’s 1000 HWGB-WD shares of in his CDS account will be adjusted to 250 HWGB-WD on the night of 7 March 2018 which is the Book Closing Date. Therefore, Mr X may, if he so wishes, sells only up to 250 HWGB-WD shares on or after the Ex-date i.e. from 5 March 2018 onwards.

Participating Organisations are hereby requested to caution all dealers and remisiers that, during the period from 5 March 2018 until 7 March 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:

The notice of book closure date in relation to the Share Consolidation has been announced separately on 20 February 2018. The Share Consolidation entails the consolidation of 4 ordinary shares in HWGB into 1 Consolidated Share at 5.00 p.m. on the Entitlement Date. The number and exercise price of Warrants D will be adjusted pursuant to the Adjustment. The exact number of Warrants D that will be adjusted will depend on the number of outstanding Warrants D as at the Entitlement Date ("Consolidated Warrants"'). The date of listing of and quotation for the Consolidated Warrants on the Main Market of Bursa Malaysia Securities Berhad will be simultaneous with the Consolidated Shares on 8 March 2018 ("Listing Date"), being the next market day following the Entitlement Date. The Consolidated Warrants will be credited into the entitled warrantholders' Central Depository System accounts and a notice will be issued and despatched to every holder of Warrants D setting out the details of the Adjustment within 21 market days after the Listing Date.