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Dividend In Specie

BackNov 01, 2017
EX-date 14 Nov 2017
Entitlement date 16 Nov 2017
Entitlement time 05:00 PM
Entitlement subject Dividend in specie
Entitlement description Distribution of up to 292,229,202 ordinary shares in Perdana Petroleum Berhad (Perdana) (Perdana Shares), representing approximately 37.5% equity interest in Perdana held by Dayang Enterprise Holdings Bhd (Dayang) on the basis of approximately 0.302 Perdana Share for each ordinary share held in Dayang (Dayang Share) to the entitled shareholders of Dayang by way of dividend-in-specie (Dividend-In-Specie)
Period of interest payment   to  
Financial Year End
Share transfer book & register of members will be   to   closed from (both dates inclusive) for the purpose of determining the entitlement
Registrar or Service Provider name, address, telephone no TRICOR INVESTOR & ISSUING HOUSE SERVICES SDN BHD Unit 32-01, Level 32, Tower A, Vertical Business Suite, Avenue 3, Bangsar South, No. 8, Jalan Kerinchi 59200Kuala Lumpur Tel:0327839299 Fax:0327839222
Payment date
a.Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers 16 Nov 2017
b.Securities deposited into the Depositor's Securities Account before 12:30 pm in respect of securities exempted from mandatory deposit
c. Securities bought on the Exchange on a cum entitlement basis according to the Rules of the Exchange.
Number of new shares/securities issued (units) (If applicable)
Entitlement indicator Ratio
Ratio 0.302 : 1
Rights Issue/Offer Price
Par Value (if applicable)

 


Remarks :

We refer to the earlier announcements dated 12 May 2017, 24 July 2017 and 9 August 2017 ("Announcements"), as well as the circular to the shareholders of the Company dated 25 July 2017 ("Circular"). All abbreviations and definitions used herein shall have the same meanings as the words and expressions defined in the Announcements and the Circular.

Pursuant to the Dividend-In-Specie which was approved by the shareholders of Dayang at the extraordinary general meeting held on 9 August 2017, the Entitled Shareholders shall receive 0.302 Perdana Share for each Dayang Share held as at 5.00 p.m. on the Entitlement Date. For illustrative purposes only, an Entitled Shareholder holding 1,000 Dayang Shares will be entitled to receive 302 Perdana Shares from the Dividend-In-Specie.

In determining the Entitled Shareholders entitlement to the Dividend Shares, fractional entitlements to the Dividend Shares (if any) shall be disregarded and dealt with in such manner or terms as the Board shall in its absolute discretion deems fit, fair and equitable, and in the best interest of the Company. Any residual Dividend Share following the distribution of the Dividend Shares to the Entitled Shareholders will be dealt with in such manner as the Board may deem fit. Accordingly, it is the intention of the Board to retain any residual Dividend Share held by the Company after the Dividend-In-Specie.

The reference price of Dayang Shares pursuant to the Dividend-In-Specie will be adjusted using the distribution ratio of 0.302 Perdana Share for each Dayang Share held by the Entitled Shareholders and the audited consolidated net asset per share of Perdana as at 31 December 2016 of RM0.96. For illustration purposes, assuming the closing price on the last cum date of Dayang Share is RM0.87 (based on the closing price of Dayang Share on 31 October 2017), the reference price of Dayang Share pursuant to the Dividend-In-Specie is RM0.58.

Barring any unforeseen circumstances, Dayang will distribute the Perdana Shares pursuant to the Dividend-In-Specie within one (1) month from the Entitlement Date.

This Announcement is dated 1 November 2017.

 


Announcement Info

Company Name DAYANG ENTERPRISE HOLDINGS BERHAD
Stock Name DAYANG
Date Announced 01 Nov 2017
Category Entitlement(Notice of Book Closure)
Reference Number ENT-01112017-00004
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