Adjustment
| ICON OFFSHORE BERHAD |
| Entitlement subject | Adjustment |
| Entitlement description | ADJUSTMENTS TO THE EXERCISE PRICE AND NUMBER OF OUTSTANDING WARRANTS 2020 / 2028 OF ICON OFFSHORE BERHAD ("ICON" OR THE "COMPANY") ("WARRANTS A") IN ACCORDANCE WITH THE PROVISIONS OF THE DEED POLL DATED 9 JANUARY 2020 CONSTITUTING THE WARRANTS A ("DEED POLL A") PURSUANT TO THE CONSOLIDATION OF EVERY 5 EXISTING ORDINARY SHARES IN ICON ("ICON SHARES" OR "SHARES") HELD AT 5.00 P.M. ON 28 NOVEMBER 2023 ("ENTITLEMENT DATE") INTO 1 ICON SHARE ("CONSOLIDATED SHARE") ("SHARE CONSOLIDATION") ("ADJUSTMENTS") |
| EX-date | 27 Nov 2023 |
| Entitlement date | 28 Nov 2023 |
| Entitlement time | 5:00 PM |
| Financial Year End | 31 Dec 2023 |
| 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 | 28 Nov 2023 |
| 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 : 5.0000 |
| Rights Issue/Offer Price | |
| Par Value (if applicable) | |
| Registrar or Service Provider name, address, telephone no |
BOARDROOM SHARE REGISTRARS SDN BHD 11th Floor, Menara Symphony No. 5, Jalan Prof. Khoo Kay Kim (Jalan Semangat) Seksyen 13 46200 Petaling Jaya Selangor Malaysia Tel:0378904700 Fax:0378904670 |
| Remarks : |
Pursuant to the Share Consolidation, the exercise price and number of outstanding Warrants A which are not exercised prior to the Entitlement Date will be adjusted in accordance with the provisions of the Deed Poll A.
The Warrants A will be consolidated on the basis of every 5 Warrants A held by the entitled holders of Warrants A (whose names appear in the Record of Depositors for the Warrants A at 5.00 p.m. on the Entitlement Date) into 1 Warrant A ("Consolidated Warrant A").
Fractional entitlements arising from the Adjustments, if any, shall be disregarded and/or 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 654,513,210 Warrants A will be adjusted into a maximum number of 130,902,642 Consolidated Warrants A. The actual number of Consolidated Warrants A to be issued and allotted would depend on the number of outstanding Warrants A which have yet to be exercised into new Shares as at the Entitlement Date.
Further, the existing exercise price of Warrants A of RM0.165 each will be revised to RM0.825 each pursuant to the Adjustments.
The Consolidated Warrants A will be listed and quoted on the Main Market of Bursa Malaysia Securities Berhad ("Bursa Securities") 29 November 2023 ("Listing Date"), being the next market day following the Entitlement Date.
The notices of allotment for the Consolidated Warrants A will be issued and despatched to the entitled holders within 4 market days after the Listing Date. The notice to the holders of Warrants A (setting out the details of the Adjustments) will be despatched in due course.
The Adjustments will result in a reduction in the number of Warrants A available in the market and the trading price of the Warrants A will be adjusted accordingly in proportion to the basis of the Share Consolidation. The entitled holders of Warrants A are strongly advised to trade cautiously to prevent overselling of their position in respect of the Warrants A held. |
Announcement Info
| Company Name | ICON OFFSHORE BERHAD |
| Stock Name | ICON-WA |
| Date Announced | 14 Nov 2023 |
| Category | Entitlement(Notice of Book Closure) |
| Reference Number | ENT-14112023-00005 |