Highlights

[MTOUCHE-WA] Adjustment on 10-Mar-2017


Stock [MTOUCHE-WA]: MTOUCHE TECHNOLOGY BHD-WA
Announcement Date 10-Mar-2017

Financial Year 30-Jun-2017
Subject Adjustment
Type Adjustment
Amount 2 : 1
Ex Date 22-Mar-2017
Entitlement Date 24-Mar-2017
Payment Date

Registrar SHAREWORKS SDN BHD No. 2-1, Jalan Sri Hartamas 8 Sri Hartamas 50480 Kuala Lumpur Tel : +603 - 6201 1120 Fax : +603 - 6201 3121
Description ADJUSTMENTS TO THE NUMBER AND EXERCISE PRICE OF OUTSTANDING WARRANTS 2008/2018 ("WARRANTS A") AS SPECIFIED IN THE DEED POLL DATED 21 NOVEMBER 2007 ("DEED POLL A"), AS A CONSEQUENCE OF THE CONSOLIDATION OF EVERY TWO (2) ORDINARY SHARES IN MTOUCHE TECHNOLOGY BERHAD ("MTOUCHE" OR THE "COMPANY") ("MTOUCHE SHARES" OR "SHARES") INTO ONE (1) SHARE ("CONSOLIDATED SHARES") AT 5.00 P.M. ON 24 MARCH 2017 ("SHARE CONSOLIDATION ENTITLEMENT DATE") ("SHARE CONSOLIDATION")
Remark Arising from the no par value regime under the Companies Act 2016, par value is no longer relevant. Pursuant to the Share Consolidation, the number and exercise price of outstanding Warrants A which are not exercised prior to the Share Consolidation Entitlement Date will be adjusted in accordance with the provisions of the Deed Poll A ("Adjustments"). The Warrants A will be consolidated on the basis of every two (2) Warrants A held by the entitled holders of Warrants A of the Company (whose names appear in the Record of Depositors at 5.00 p.m. on the Share Consolidation Entitlement Date) into one (1) Warrant A ("Consolidated Warrant"). Fractional entitlements arising from the Adjustments, if any, will be disregarded and/or shall be dealt with by the Board in such manner as the Board in its absolute discretion deems fit and expedient or in the best interest of the Company. The actual number of Consolidated Warrants to be issued and allotted would depend on the number of outstanding Warrants A which have yet to be exercised into new mTouche Shares as at the Share Consolidation Entitlement Date. Pursuant to the Adjustments, the existing exercise price of Warrants A of RM0.63 each will be revised to RM1.26 each. The Consolidated Warrants will be listed and quoted on the ACE Market of Bursa Malaysia Securities Berhad on 27 March 2017, being the next market day following the Share Consolidation Entitlement Date. The notice of allotment for the Consolidated Warrants will be despatched to the entitled holders by 29 March 2017. The notice to the holders of Warrants A (setting out the details of the Adjustments) will be despatched in due course. This announcement is dated 10 March 2017.


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