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Date : 18 March 2021

KWANTAS - Notice of Book Closure

KWANTAS CORPORATION BERHAD

Selective capital reduction and repayment exercise of Kwantas Corporation Berhad ("Kwantas") pursuant to Section 116 of the Companies Act, 2016 ("SCR")
 

Kindly be advised of the following : 

1)  The above Company's securities will be traded and quoted "Ex - Repayment” as from: 30 Mar 2021
2)  The last date of lodgment : 31 Mar 2021
3)  Date Payable : 9 Apr 2021

 

Remarks : 

Under the SCR, all the shareholders of Kwantas whose names appear in the Record of Depositors of Kwantas as at the Entitlement Date (as set out above) (other than Kwan Ngen Wah and the estate of the late Kwan Ngen Chung) ("Entitled Shareholders") shall be entitled to receive a cash consideration of RM1.65 for each existing ordinary share in Kwantas ("Kwantas Share") held on the Entitlement Date ("SCR Offer Price"). The settlement of the SCR Offer Price will be effected via electronic remittance to the Entitled Shareholders' bank accounts duly registered with Bursa Malaysia Depository Sdn Bhd for purposes of receiving electronic cash dividend ("eDividend Accounts") within 10 days from the date on which an office copy of the sealed order granted by the High Court in Sabah and Sarawak dated 3 March 2021 confirming the reduction of the issued share capital of Kwantas pursuant to Section 116 of the Companies Act, 2016 ("High Court Order") is lodged with the Registrar of Companies pursuant to Section 116(6) of the Companies Act, 2016 ("Effective Date"). For the Entitled Shareholders who do not maintain eDividend Accounts, the settlement of the SCR Offer Price will be effected via remittance in the form of cheques, banker's drafts and/or cashier's orders which will be despatched by ordinary mail to the Entitled Shareholders (or their designated agents, as they may direct) at the Entitled Shareholders' registered addresses last maintained with Bursa Malaysia Depository Sdn Bhd at their own risk within 10 days from the Effective Date. An office copy of the High Court Order will be lodged with the Registrar of Companies pursuant to Section 116(6) of the Companies Act, 2016 on the Entitlement Date and consequently, the settlement of the SCR Offer Price will be effected on Friday, 9 April 2021. The trading of Kwantas Shares on the Main Market of Bursa Malaysia Securities Berhad ("Bursa Securities") will be suspended with effect from 9:00 a.m. on Tuesday, 30 March 2021, being 1 market day prior to the Entitlement Date. Accordingly, the last date and time for trading of Kwantas Shares on the Main Market of Bursa Securities prior to the suspension will be at 5:00 p.m. on Monday, 29 March 2021. Kwantas Shares will no longer be traded on the Main Market of Bursa Securities following its suspension on Tuesday, 30 March 2021. For avoidance of doubt, the trading of Kwantas Shares will continue to be suspended until the de-listing of Kwantas from the Official List of Bursa Securities following the completion of the SCR. The notice to shareholders in relation to the suspension of trading of Kwantas Shares on the Main Market of Bursa Securities and the Entitlement Date for the SCR will be despatched to the shareholders of Kwantas on Thursday, 18 March 2021. Any enquiries concerning this notice of book closure date should be addressed to the share registrar of Kwantas at the abovementioned contact details. 


Announcement Info

Company Name KWANTAS CORPORATION BERHAD
Stock Name KWANTAS
Date Announced 18 Mar 2021
Category Listing Circular
Reference Number ILC-18032021-00016
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