CORRIE MACCOLL PTE LTD (the "Company")
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NOTICE OF BOOKS CLOSURE DATE FOR THE SHARE CONSOLIDATIONCapitalised words used in this announcement, unless otherwise defined herein, shall have the same meanings as ascribed to them in the appendix, circulated together with the Company's Annual Report
2014, to shareholders of the Company (the "Shareholders") dated 7 April 2015 (the "Appendix").
1. INTRODUCTIONThe Board of Directors (the "Board" or the "Directors") of the Company refers to the Company's announcements dated 17 March 2015 and 31 March 2015, and the Appendix in relation to the proposed share consolidation of every ten (10) existing issued ordinary shares in the share capital of the Company (the "Shares") into one (1) consolidated share (the "Consolidated Share") which was approved by the Shareholders at the Annual General Meeting held on 23 April 2015 (the "Share Consolidation").
2. NOTICE OF BOOKS CLOSURE DATE NOTICE IS HEREBY GIVEN that the Register of Members and Share Transfer Books of the Company will be closed at 5.00 p.m. (Singapore time) on 15 May 2015 (the "Books Closure Date") for the purposes of determining the entitlements of Shareholders pursuant to the Share Consolidation.
On the Books Closure Date, every ten (10) Shares registered in the name, or standing to the credit of the Securities Account, of each Shareholder (as the case may be) will be consolidated into one (1) Consolidated Share, fractional entitlements to be disregarded.
The Shares will begin trading on a consolidated basis from 9.00 a.m. on 13 May 2015 (the "Effective Trading Date"), on the SGX-ST. Accordingly, every ten (10) Shares as at 5.00 p.m. on the Market Day immediately preceding the Effective Trading Date will represent one (1) Consolidated Share with effect from 9.00 a.m. on the Effective Trading Date. Trading in the existing Shares will cease after 5.00 p.m. on the Market Day immediately preceding the Effective Trading Date (i.e. 12 May 2015).
The Share Consolidation shall be effective from 9.00 a.m. on 18 May 2015 (the "Effective Date"), being the Market Day immediately following the Books Closure Date, whereupon the Register of Members and the Depository Register will be updated to reflect the number of Consolidated Shares held by Shareholders and Depositors upon completion of the Share Consolidation based on the number of Shares held by them as at the Books Closure Date.
Shareholders should note that the number of Consolidated Shares which they will be entitled to pursuant to the Share Consolidation, based on their holdings of the Shares as at the Books Closure Date, will be rounded down to the nearest whole Consolidated Share and any fractions of a Consolidated Share arising from the Share Consolidation will be disregarded. All fractional entitlements arising from the implementation of the Share Consolidation will be dealt
with in such manner as the Directors may, in their absolute discretion, deem fit in the interests
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of the Company. Affected Shareholders will not be paid for any fractions of a Consolidated
Share which are disregarded.
Each Consolidated Share will rank pari passu in all respects with each other and will be traded in board lots of 100 Consolidated Shares.
For further information relating to matters concerning the deposit of share certificates with The Central Depository (Pte) Ltd (the "CDP"), the issue of new share certificates upon deposit and the settlement of trading in respect of old share certificates, please refer to Section 4.4 of the Appendix.
4. TRADING ARRANGEMENTS FOR ODD LOTS
The Shares in issue are currently traded in board lots of 100 Shares in the ready market. Following the Share Consolidation, the Securities Accounts of Shareholders (being Depositors) may be credited with odd lots of Consolidated Shares (that is, lots other than board lots of 100 Consolidated Shares). The market for trading of such odd lots of Consolidated Shares may be illiquid. Trading in odd lots of Consolidated Shares may also give rise to disproportionate transaction costs. Shareholders (being Depositors) who receive odd lots of Consolidated Shares pursuant to the Share Consolidation and who wish to trade such odd lots of Consolidated Shares on the SGX-ST should note that odd lots of Consolidated Shares can trade with a minimum size of one (1) Consolidated Share on the SGX-ST's unit share market. The unit share market will enable trading in odd lots in any quantity less than one (1) board lot of the underlying Consolidated Shares in the ready market.
Shareholders should note further that the Company has obtained approval from the SGX-ST for the setting up of a temporary counter for the trading of Consolidated Shares in board lots of one (1) Consolidated Share for a period of two months from the Effective Trading Date.
The set-up of the temporary odd lot counter is strictly of a provisional nature. Entitled Shareholders who continue to hold odd lots of less than 100 Consolidated Shares after the two-month period may find difficulty in realising the fair market price of such Consolidated Shares.
The table below sets out the indicative timetable for the Share Consolidation.
Time and Date | Event |
7 May 2015 (Thursday) | Announcement of notice of Books Closure Date for the Share Consolidation |
5.00 p.m. on 12 May 2015 (Tuesday) | Cessation of trading of the existing Shares |
9.00 a.m. on 13 May 2015 (Wednesday) | Effective Trading Date of Shares on a consolidated basis |
5.00 p.m. on 15 May 2015 (Friday) | Books Closure Date for the Share Consolidation |
9.00 a.m. on 18 May 2015 (Monday) | Effective Date (Share Consolidation becomes effective) |
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6. CONTACT INFORMATION
The address of the Share Registrar of the Company, Boardroom Corporate & Advisory
Services Pte. Ltd., is as follows:
50 Raffles Place
#32-01 Singapore Land Tower
Singapore 048623
The address of CDP is as follows:
9 North Buona Vista Drive
#01-19/20
The Metropolis
Singapore 138588
Lu Ling Ling
Company Secretary
7 May 2015
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