MPIRE-WB - Notice of Book Closure

ADJUSTMENTS TO THE EXERCISE PRICE AND NUMBER OF OUTSTANDING WARRANTS 2021/2024 IN MPIRE GLOBAL BERHAD ("MPIRE" OR "COMPANY") AS CONSTITUTED BY THE DEED POLL DATED 22 NOVEMBER 2021 ("DEED POLL B") ("WARRANTS B") PURSUANT TO THE CONSOLIDATION OF EVERY 2 EXISTING ORDINARY SHARES IN MPIRE ("SHARE(S)") HELD AS AT 5.00 P.M. ON 11 NOVEMBER 2024 ("ENTITLEMENT DATE") INTO 1 SHARE ("CONSOLIDATED SHARE(S)") ("SHARE CONSOLIDATION")

Kindly be advised of the following :

1) The above Company's securities will be traded and quoted "Ex - Adjustment” as from: 08 Nov 2024
2) The last date of lodgment : 11 Nov 2024

Remarks 1: 

Participating Organisations are to take note of the following Share Consolidation exercise by MPIRE GLOBAL BERHAD - WARRANTS 2021/2024.

The Share Consolidation comprises the following: -

ADJUSTMENTS TO THE EXERCISE PRICE AND NUMBER OF OUTSTANDING WARRANTS 2021/2024 IN MPIRE GLOBAL BERHAD ("MPIRE" OR "COMPANY") AS CONSTITUTED BY THE DEED POLL DATED  22 NOVEMBER 2021 ("DEED POLL B") ("WARRANTS B") PURSUANT TO THE CONSOLIDATION OF EVERY 2 EXISTING ORDINARY SHARES IN MPIRE ("SHARE(S)") HELD AS AT 5.00 P.M. ON 11 NOVEMBER 2024 ("ENTITLEMENT DATE") INTO 1 SHARE ("CONSOLIDATED SHARE(S)") ("SHARE CONSOLIDATION")

In relation to the warrants adjustment undertaken by MPIRE-WB as a SPEEDS Corporate Exercise, Bursa Malaysia Securities Berhad would like to highlight that:

(a) on or after the Ex-date on 08 Nov 2024, trading of MPIRE-WB shares will be based on the newly adjusted warrants arising from warrants adjustments,

(b) on the basis of settlement taking place after 11 Nov 2024 with adjusted MPIRE-WB shares, an entitled warrants holder who owns MPIRE-WB shares as at Ex-date may sell only up to the maximum MPIRE-WB shares he expects to receive after the adjustment, i.e. the reduced amount, on or after the Ex-date 08 Nov 2024.

With the warrants adjustments pursuant to the Share Consolidation effected on MPIRE-WB shareholders’ CDS account at the end of the Entitlement Date (“Books Closure Date”), an entitled MPIRE-WB shareholder may use the following basis to estimate the maximum number of MPIRE-WB shares that he may sell from the Ex-date until the Book Closing Date which is from 08 Nov 2024 until 11 Nov 2024.

Illustration:

For example, if Mr X owns or purchases 200 MPIRE-WB shares on cum basis on 07 Nov 2024, his CDS account would still show 200 MPIRE-WB shares until 11 Nov 2024. However, as a result of the above Share Consolidation exercise, Mr X’s 200 MPIRE-WB shares in his CDS account will be adjusted to 100 MPIRE-WB shares on the night of 11 Nov 2024 which is the Book Closing Date. Therefore, Mr X may, if he so wishes, sells only up to 100 MPIRE-WB shares on or after the Ex-date i.e. from  08 Nov 2024 onwards.

Participating Organisations are hereby requested to caution all dealers and remisiers that, during the period from 08 Nov 2024 until 11 Nov 2024, they are only entitled to sell the maximum of 1/2 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: 

Pursuant to the Share Consolidation, the exercise price and number of outstanding Warrants B (which are not exercised into new Shares prior to the Entitlement Date) shall be adjusted in accordance with the provisions of the Deed Poll B ("Adjustments").

The outstanding Warrants B will be consolidated on the basis of every 2 Warrants B held by the holders of Warrants B whose names appear in the Record of Depositors of the Company for Warrants B on the Entitlement Date ("Entitled Warrant B Holders") into 1 Warrant B ("Consolidated Warrant(s) B"). Fractional entitlements for the Consolidated Warrants B arising from the Adjustments, if any, will be disregarded and 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 97,914,499 outstanding Warrants B will be adjusted into up to 48,957,249 Consolidated Warrants B. The actual number of Consolidated Warrants B to be issued and allotted would depend on the number of outstanding Warrants B which are not exercised into new Shares on the Entitlement Date.
 
Further, pursuant to the Adjustments, the exercise price of the Warrants B of RM0.475 each will be revised to RM0.950 each.

The Consolidated Warrants B will be listed and quoted on the Main Market of Bursa Malaysia Securities Berhad on 12 November 2024 ("Listing Date"), being the next market day following the Entitlement Date.

The notice of allotment of the Consolidated Warrants B will be issued and despatched to the Entitled Warrants B Holders at the addresses set out in the Record of Depositors of the Company for Warrants B as at the Entitlement Date within 4 market days after the Listing Date. The notice setting out the details of the Adjustments will be issued and despatched to the Entitled Warrants B Holders in due course. 

The Share Consolidation will result in a reduction in the number of Warrants B available in the market and the trading price of the Warrants B will be adjusted accordingly in proportion to the basis of the Share Consolidation. 

The Entitled Warrants B Holders who wish to be entitled to the Share Consolidation as the Company's shareholders shall exercise their rights to subscribe for new Shares by lodging their duly completed exercise forms together with the relevant subscription monies with the Share Registrar of the Company (at the address stated above) on or before 5.00 p.m. on Monday, 28 October 2024 such that their names will appear in the Record of Depositors of the Company for Shares at 5.00 p.m. on the Entitlement Date.