HHGROUP - Notice of Book Closure

HENG HUAT RESOURCES GROUP BERHAD

CONSOLIDATION OF EVERY 10 EXISTING ORDINARY SHARES IN HENG HUAT RESOURCES GROUP BERHAD ("HENG HUAT") ("HENG HUAT SHARE(S)") HELD AS AT 5.00 P.M. ON 30 JANUARY 2020 ("ENTITLEMENT DATE") INTO 1 HENG HUAT SHARE ("CONSOLIDATED SHARE(S)") ("SHARE CONSOLIDATION")

 

Kindly be advised of the following : 

1)  The above Company's securities will be traded and quoted "Ex - Consolidation” as from: 29 Jan 2020
2)  The last date of lodgment : 30 Jan 2020
 

Remarks 1:-  Participating Organisations are to take note of the following Share Consolidation exercise by  HENG HUAT RESOURCES GROUP BERHAD.

 

The Share Consolidation comprises the following:-

 

CONSOLIDATION OF EVERY 10 EXISTING ORDINARY SHARES IN HENG HUAT RESOURCES GROUP BERHAD ("HENG HUAT ") ("HENG HUAT SHARE(S)") HELD AS AT 5.00 P.M. ON 30 JANUARY 2020 ("ENTITLEMENT DATE") INTO 1 HENG HUAT SHARE ("CONSOLIDATED SHARE(S)") ("SHARE CONSOLIDATION")

 

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

 

(a) on or after the Ex-date on 29 January 2020, trading of HHGROUP shares will be based on the newly adjusted share after the Share Consolidation of HHGROUP shares,

 

(b) on the basis of settlement taking place after 30 January 2020 with consolidated HHGROUP shares, any entitled shareholder who owns HHGROUP shares as at Ex-date may sell only up to the maximum HHGROUP shares he expects to receive after the Share Consolidation, i.e. the reduced amount, on or after the Ex-date 29 January 2020.

 

With the adjustments pursuant to the Share Consolidation effected on HHGROUP shareholders’ CDS account at the end of the Entitlement Date (“Books Closure Date”), an entitled HHGROUP shareholder may use the following basis to estimate the maximum number of HHGROUP  shares that he may sell from the Ex-date until the Book Closing Date which is from  29 January 2020 until 30 January 2020.

 

Number of  HHGROUP shares that may be     =      Number of shares held  X  0.10  

sold on 29 January 2020 until 30 January 2020      (All fractional shares computed should be disregarded)

 

Illustration:

For example, if Mr X owns or purchases 1000 HHGROUP shares on cum basis on 28 January 2020, his CDS account would still show 1000 HHGROUP shares until 30 January 2020. However, as a results of the above Share Consolidation exercise, Mr X’s 1000 HHGROUP shares in his CDS account will be adjusted to 100 HHGROUP shares on the night of 30 January 2020 which is the Book Closing Date. Therefore, Mr X may, if he so wishes, sells only up to 100 HHGROUP shares on or after the Ex-date i.e. from 29 January 2020 onwards.

 

Participating Organisations are hereby requested to caution all dealers and remisiers that, during the period from 29 January 2020 until 30 January 2020, they are only entitled to sell the maximum of 10% 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 Share Consolidation entails the consolidation of 10 Heng Huat Shares held on the Entitlement Date into 1 Consolidated Share. The actual number of Consolidated Shares after the Share Consolidation would depend on the total number of issued Heng Huat Shares on the Entitlement Date. Fractional entitlements for the Heng Huat Shares arising from the Share Consolidation, if any, shall 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. The date of listing of and quotation for the Consolidated Shares on the ACE Market of Bursa Malaysia Securities Berhad will be on 31 January 2020 (Listing Date), being the next market day following the Entitlement Date. A notice of allotment will be issued and despatched to the entitled shareholders for the Share Consolidation at the addresses set out in the Record of Depositors of the Company within 4 market days after the Listing Date.

 

 


Announcement Info

Company Name HENG HUAT RESOURCES GROUP BERHAD
Stock Name HHGROUP
Date Announced 17 Jan 2020
Category Listing Circular
Reference Number ILC-16012020-00003