Consolidation

[ABLEGRP] Others on 19-Oct-2006

Announcement Date: 19-Oct-2006
Related Stock:
ABLEGRP
ABLEGROUP BERHAD
Share Registrar:
ABLEGRP
ABLEGROUP BERHAD

Amount

1 : 1

  • Ex Date
    10-Nov-2006
  • Entitlement Date
    14-Nov-2006


Description
Scheme of Arrangement with Shareholders which entails the following :- 1) Reduction of the existing issued and paid-up share capital of Jin Lin Wood Industries Berhad ("Jin Lin") of RM44,000,000 comprising 44,000,000 ordinary shares of RM1.00 each in Jin Lin ("Jin Lin Shares") to RM8,800,000 comprising 44,000,000 ordinary shares of RM0.20 each in Jin Lin ("Reduction"); 2) Consolidation of 44,000,000 ordinary shares of RM0.20 each in Jin Lin into 8,800,000 Jin Lin Shares upon completion of the Reduction ("Consolidation"); 3) Cancellation of the entire issued and paid-up share capital of Jin Lin of RM8,800,000 comprising 8,800,000 Jin Lin Shares upon completion of the Consolidation ("Cancellation"); 4) In consideration for the Cancellation, Gefung Holdings Berhad ("Gefung") shall allot and issue to the shareholders of Jin Lin, 8,800,000 new ordinary shares of RM1.00 each in Gefung ("Gefung Shares") at par, credited as fully paid-up on the basis of one (1) new Gefung Share for every one (1) Jin Lin Share held after the Consolidation. 5) Forthwith and contingent upon the Cancellation, Jin Lin shall apply an amount of RM8,800,000 out of the credit reserve arising in paying in full at par, 8,800,000 Jin Lin Shares which shall be allotted and issued, credited as fully paid-up to Gefung.

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 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:

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