OVERSEA - Notice of Book Closure

SUBDIVISION OF EVERY 1 EXISTING ORDINARY SHARE IN OVERSEA ENTERPRISE BERHAD ("OVERSEA" OR THE "COMPANY") ("SHARE") HELD AT 5.00 P.M. ON 24 FEBRUARY 2021 ("BOOKS CLOSURE DATE") INTO 3 SHARES ("SUBDIVIDED SHARES") ("SHARE SPLIT")
 

Kindly be advised of the following : 

1)  The above Company's securities will be traded and quoted "Ex - Offer” as from: 23 Feb 2021
2)  The last date of lodgment : 24 Feb 2021
 

Remarks 1:

"Bursa Malaysia Securities Bhd would like to clarify that on the basis of settlement taking place after 24 February 2021 with share split of OVERSEA shares, any shareholder who is entitled to receive OVERSEA shares arising from the share split exercise, may sell any or all of his OVERSEA shares beginning the Ex-Date (23 February 2021).  
 
For example, if Mr X purchases 100 OVERSEA shares on cum basis on 22 February 2021, Mr X should receive 100 shares on 24 February 2021. As a result of the share split, 100 OVERSEA shares will be split into 300 shares in Mr X's CDS account on the night of 24 February 2021 being the Book Closing Date. Therefore, Mr X can sell the share split shares of 300 on or after the Ex-Date ie from 23 February 2021 onwards."

Remarks 2:

For illustration, assuming no new Shares pursuant to the ongoing private placement are issued and no treasury share is resold in the open market prior to the Books Closure Date, the existing total number of 246,415,000 issued Shares (including 3,900,000 treasury shares) as at the date of this announcement will be subdivided into 739,245,000 Subdivided Shares (including 11,700,000 treasury shares). However, assuming:-

(i) all 48,503,000 new Shares pursuant to the ongoing private placement are issued prior to the Books Closure Date; and

(ii) all 3,900,000 Shares held as treasury shares are resold in the open market prior to the Books Closure Date,

the enlarged total number of 294,918,000 issued Shares will be subdivided into 884,754,000 Subdivided Shares. The Subdivided Shares will be listed and quoted on the ACE Market of Bursa Malaysia Securities Berhad ("Bursa Securities") on 25 February 2021, being the next market day following the Book Closure Date.

The notices of allotment for the Share Split will be despatched to the entitled shareholders not later than 4 market days after the date of listing and quotation of the Subdivided Shares on Bursa Securities.