AIM - Notice of Book Closure

CONSOLIDATION OF EVERY 3 EXISTING ORDINARY SHARES IN ADVANCE INFORMATION MARKETING BERHAD ("AIM" OR "COMPANY") ("SHARE") HELD AS AT 5.00 P.M. ON 17 MARCH 2023 ("ENTITLEMENT DATE") INTO 1 NEW SHARE ("CONSOLIDATED SHARE") ("SHARE CONSOLIDATION")
 

Kindly be advised of the following : 

1)  The above Company's securities will be traded and quoted "Ex - Consolidation” as from: 16 Mar 2023
2)  The last date of lodgment : 17 Mar 2023
 

Remarks 1:-

Participating Organisations are to take note of the following Share Consolidation exercise by ADVANCE INFORMATION MARKETING BERHAD.

The Share Consolidation comprises the following:-

CONSOLIDATION OF EVERY 3 EXISTING ORDINARY SHARES IN ADVANCE INFORMATION MARKETING BERHAD ("AIM" OR "COMPANY") ("SHARE") HELD AS AT 5.00 P.M. ON 17 MARCH 2023 ("ENTITLEMENT DATE") INTO 1 NEW SHARE ("CONSOLIDATED SHARE") ("SHARE CONSOLIDATION") 

In relation to the Share Consolidation undertaken by AIM as a SPEEDS Corporate Exercise, Bursa Malaysia Securities Berhad would like to highlight that:

(a) on or after the Ex-date on 16 March 2023, trading of AIM shares will be based on the newly adjusted shares after the Share Consolidation of AIM shares,

(b) on the basis of settlement taking place after 17 March 2023 with consolidated AIM shares, any entitled shareholder who owns AIM shares as at Ex-date may sell only up to the maximum AIM shares he expects to receive after the Share Consolidation, i.e. the reduced amount, on or after the Ex-date 16 March 2023.

With the adjustments pursuant to the Share Consolidation effected on AIM shareholders’ CDS account at the end of the Entitlement Date (“Books Closure Date”), an entitled AIM shareholder may use the following basis to estimate the maximum number of AIM shares that he may sell from the Ex-date until the Book Closing Date which is from 16 March 2023 until 17 March 2023.

Illustration:

For example, if Mr X owns or purchases 300 AIM shares on cum basis on 15 March 2023, his CDS account would still show 300 AIM shares until 17 March 2023. However, as a result of the above Share Consolidation exercise, Mr X’s 300 AIM shares in his CDS account will be adjusted to 100 AIM shares on the night of 17 March 2023 which is the Book Closing Date. Therefore, Mr X may, if he so wishes, sells only up to 100 AIM shares on or after the Ex-date i.e. from 16 March 2023 onwards.

Participating Organisations are hereby requested to caution all dealers and remisiers that, during the period from 16 March 2023 until 17 March 2023, they are only entitled to sell the maximum of 1/3 of the shares owned before the Ex-date. Participants Organisations are reminded that it is important to caution all dealers and remisiers on the above to prevent the dealers and remisiers from overselling of their client’s position.

Remarks 2:-

The Share Consolidation entails the consolidation of every 3 existing Shares held on the Entitlement Date into 1 Consolidated Share.

The actual number of Consolidated Shares will be determined based on the number of issued Shares on the Entitlement Date. Fractional entitlements arising from the Share Consolidation, if any, shall be disregarded and/or dealt with by the Board of Directors of the Company in such manner at its absolute discretion as it may deem fit or expedient and in the best interest of the Company.

The Consolidated Shares will be listed and quoted on the ACE Market of Bursa Malaysia Securities Berhad on 20 March 2023 ("Listing Date"), being the next market day following the Entitlement Date.

The notices of allotment of the Consolidated Shares will be issued and despatched to the respective entitled shareholders within 4 market days after the Listing Date.

The Share Consolidation will result in a reduction in the number of Shares available in the market and the trading price of the Shares will be adjusted accordingly in proportion to the basis of the Share Consolidation. The shareholders of the Company are strongly advised to trade cautiously to prevent overselling of their position in respect of the Shares held.