Announcements


Date: 26 May 2017

ASIABIO - Notice of Book Closure

 

BOOKS CLOSURE DATE FOR THE CONSOLIDATION OF EVERY 3 ORDINARY SHARES IN ASIA BIOENERGY TECHNOLOGIES BERHAD ("ABT" OR THE "COMPANY") ("SHARES") INTO 1 SHARE ("CONSOLIDATED SHARE") AT 5.00 P.M. ON 5 JUNE 2017 ("SHARE CONSOLIDATION") ("BOOKS CLOSURE DATE").

Kindly be advised of the following : 

1)  The above Company's securities will be traded and quoted "Ex - Consolidation" as from: 1 Jun 2017
2)  The last date of lodgment : 5 Jun 2017

Remarks 1:  Participating Organisations are to take note of the following Share Consolidation exercise by ASIA BIOENERGY TECHNOLOGIES BERHAD.

The Share Consolidation comprises the following:- 

SHARE CONSOLIDATION OF EVERY 3 ORDINARY SHARES IN ASIA BIOENERGY TECHNOLOGIES BERHAD ("ABT" OR THE "COMPANY") ("SHARES") INTO 1 SHARE ("CONSOLIDATED SHARE") AT 5.00 P.M. ON 5 JUNE 2017 ("SHARE CONSOLIDATION"). 

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

(a) on or after the Ex-date on 1 June 2017, trading of ASIABIO shares will be based on the newly adjusted share after the Share Consolidation of ASIABIO shares,

(b) on the basis of settlement taking place after 5 June 2017 with consolidated ASIABIO shares, any entitled shareholder who owns ASIABIO shares as at Ex-date may sell only up to the maximum ASIABIO shares he expects to receive after the Share Consolidation, i.e. the reduced amount, on or after the Ex-date 1 June 2017

With the adjustments pursuant to the Share Consolidation effected on ASIABIO shareholders' CDS account at the end of the Entitlement Date ("Books Closure Date"), an entitled ASIABIO shareholder may use the following basis to estimate the maximum number of ASIABIO shares that he may sell from the Ex-date until the Book Closing Date which is from 1 June 2017 until 5 June 2017.

 Number of ASIABIO shares that may be sold on      =                               Number of shares held / 3

  1 June 2017 until 5 June 2017                                                  (All fractional shares computed should be disregarded)  

Illustration:

For example, if Mr X owns or purchases 1000 ASIABIO shares on cum basis on 31 May 2017, his CDS account would still show 1000 ASIABIO shares until 5 June 2017. However, as a result of the above Share Consolidation exercise, Mr X's 1000 ASIABIO shares in his CDS account will be adjusted to 333 ASIABIO shares on the night of 5 June 2017 which is the Book Closing Date. Therefore Mr X may, if he so wishes, sells only up to 333 ASIABIO shares each on or after the Ex-date i.e. from 1 June 2017 onwards.

Participating Organisations are hereby requested to caution all dealers and remisiers that, during the period from 1 June 2017 until 5 June 2017, they are only entitled to sell the maximum of 1/3 of the shares owned (all fractional shares computed should be disregarded) 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 actual number of Consolidated Shares to be issued would depend on the issued share capital of ABT on the Books Closure Date. The fractional entitlements arising from the Share Consolidation, if any, will be disregarded and/or shall be dealt with by the Board of Directors of the Company ("Board") in such manner as the Board in its absolute discretion deems fit and expedient or in the best interest of the Company. The Consolidated Shares will be listed and quoted on the ACE Market of Bursa Malaysia Securities Berhad ("Bursa Securities") on 6 June 2017, being the next market day following the Books Closure Date. The notice of allotment for the Share Consolidation will be despatched to the entitled shareholders not later than 4 market days after the date of listing and quotation of the Consolidated Shares on Bursa Securities. 

 

 



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