Consolidation
[NYLEX] Others on 21-Jun-2004
Announcement Date: 07-Jun-2004
Amount
2 : 1
- Ex Date21-Jun-2004
- Entitlement Date23-Jun-2004
Description
CAPITAL DISTRIBUTION BY NYLEX TO ITS SHAREHOLDERS TO BE EFFECTED THROUGH THE FOLLOWING: (A) CAPITAL REDUCTION OF THE EXISTING ISSUED AND PAID-UP SHARE CAPITAL OF NYLEX FROM RM224,487,720 COMPRISING 224,487,720 ORDINARY SHARES OF RM1.00 EACH TO RM112,243,860 COMPRISING 224,487,720 ORDINARY SHARES OF RM0.50 EACH VIA THE CANCELLATION OF RM0.50 FROM EACH EXISTING ORDINARY SHARE OF RM1.00 PAR VALUE IN NYLEX PURSUANT TO AN ORDER OF THE HIGH COURT OF MALAYA UNDER SECTION 64 OF THE COMPANIES ACT, 1965 RESULTING IN A CAPITAL RESERVE OF RM112,243,860 TO BE UTILISED FOR THE CAPITAL DISTRIBUTION ("CAPITAL REDUCTION") (B) CONSOLIDATION OF 224,487,720 ORDINARY SHARES OF RM0.50 EACH IN NYLEX AFTER THE CAPITAL REDUCTION INTO 112,243,860 ORDINARY SHARES OF RM1.00 EACH ON THE BASIS OF TWO (2) ORDINARY SHARES OF RM0.50 EACH INTO ONE (1) ORDINARY SHARE OF RM1.00 EACH IN NYLEX HELD AT THE BOOKS CLOSURE DATE ("SHARE CONSOLIDATION") (C) CAPITAL DISTRIBUTION OF NYLEX’S ENTIRE INVESTMENT IN TAMCO CORPORATE HOLDINGS BERHAD ("TAMCO") OF RM112,243,860 COMPRISING 224,487,720 ORDINARY SHARES OF RM0.50 EACH ON THE BASIS OF TWO (2) TAMCO SHARES FOR EACH CONSOLIDATED NYLEX SHARE HELD ("CAPITAL DISTRIBUTION")
About NYLEX (M) BHD
Nylex Malaysia Bhd is principally involved in investment holding and the manufacture and marketing of vinyl-coated fabrics, calendered film and sheeting, rotomoulded plastic products, and other plastic products, including geotextiles, prefabricated sub-soil drainage systems, bulk chemical container, road barriers, playground equipment and disposal bins. The group comprises the following business segments namely Polymer division and the industrial chemical division. The polymer division includes manufacture and marketing of polyurethane and vinyl-coated fabrics. The industrial chemical comprises of trading, manufacture, and sale of petrochemicals and industrial chemical products. The firm's business in Malaysia contributes most of its revenue. How to be entitled
To be entitled for any of the above, you need to purchase the shares one trading day before the ex-Date. You will not be entitled for the above if you purchase the shares on or after the ex-Date. On ex-Date, the price will be adjusted to reflect the theoretical market price of the stock after the entitlement. You can sell the shares on / after ex-Date and still be entitled to the corporate exercise. The key is to purchase the shares before ex-Date.
How to subscribe
Shareholders that fulfill the requirement above will need to fill in and submit the right subscription form to the share registrar: Market Buzz
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
