Adjustment
| STERLING PROGRESS BERHAD |
| EX-date | 06 Feb 2017 |
| Entitlement date | 08 Feb 2017 |
| Entitlement time | 05:00 PM |
| Entitlement subject | Adjustment |
| Entitlement description | STERLING PROGRESS BERHAD ("SPB" OR THE "COMPANY") ADJUSTMENTS TO THE EXERCISE PRICE AND THE NUMBER OF OUTSTANDING WARRANTS 2011/2021 OF THE COMPANY CONSTITUTED BY THE DEED POLL DATED 6 JANUARY 2011 ("DEED POLL") ("WARRANTS 2011/2021") PURSUANT TO THE SHARE CONSOLIDATION OF EVERY FOUR (4) ORDINARY SHARES OF RM0.025 EACH IN SPB INTO ONE (1) NEW ORDINARY SHARE OF RM0.100 EACH IN SPB ("SPB SHARE" OR "SHARE") ("CONSOLIDATED SHARE") AT 5.00 P.M. ON 8 FEBRUARY 2017 ("ENTITLEMENT DATE") ("ADJUSTMENTS") ("SHARE CONSOLIDATION") |
| Period of interest payment | to |
| Financial Year End | |
| Share transfer book & register of members will be | to closed from (both dates inclusive) for the purpose of determining the entitlement |
| Registrar or Service Provider name, address, telephone no | AGRITEUM SHARE REGISTRATION SERVICES SDN BHD 2nd Floor, Wisma Penang Garden 42, Jalan Sultan Ahmad Shah 10050 Penang Tel: 04-2282 321 Fax: 04-2272 391 |
| Payment date | |
| a.Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers | 08 Feb 2017 |
| 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 : 4 |
| Rights Issue/Offer Price | |
| Par Value | |
| Remarks : |
Following the Share Consolidation, the exercise price and the number of outstanding Warrants 2011/2021 shall be adjusted in accordance with the provisions of the Deed Poll.
Pursuant to the Adjustments, the outstanding Warrants 2011/2021 will be consolidated on the basis of every four (4) outstanding Warrants 2011/2021 held by the entitled holders of outstanding Warrants 2011/2021 of the Company (whose names appear in the Record of Depositors at 5.00 p.m. on the Entitlement Date) into one (1) Warrant 2011/2021 ("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 issued and allotted would depend on the number of outstanding Warrants 2011/2021 which have yet to be exercised into new SPB Shares as at the Entitlement Date.
Pursuant to the Adjustments, the existing exercise price of the outstanding Warrants 2011/2021 of RM0.120 each will be revised to RM0.480 each.
The Consolidated Warrants will be listed and quoted simultaneously with the Consolidated Shares on the ACE Market of Bursa Securities on 10 February 2017, being the next market day following the Entitlement Date. The notice to the holders of outstanding Warrants 2011/2021 (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 2011/2021 who wish to be entitled to the Share Consolidation should exercise their outstanding Warrants 2011/2021 by lodging their duly completed exercise forms together with the subscription monies with SPB's share registrar on or before 5.00 p.m. on 27 January 2017 for their names to appear on the Record of Depositors at 5.00 p.m. on the Entitlement Date.
This announcement is dated 23 January 2017. |
Announcement Info
| Company Name | STERLING PROGRESS BERHAD |
| Stock Name | STERPRO-WA |
| Date Announced | 23 Jan 2017 |
| Category | Entitlement(Notice of Book Closure) |
| Reference Number | ENT-23012017-00002 |