KPPROP - Notice of Book Closure

Consolidation of every five (5) ordinary shares in Kerjaya Prospek Property Berhad (formerly known as GSB Group Berhad) ("KPPROP") ("KPPROP Shares") into one (1) ordinary share in KPPROP  ("Share Consolidation")

Kindly be advised of the following : 

1)  The above Company's securities will be traded and quoted "Ex - Consolidation” as from: 29 Jan 2020
2)  The last date of lodgment : 30 Jan 2020

Remarks 1:-  Participating Organisations are to take note of the following Share Consolidation exercise by KERJAYA PROSPEK PROPERTY BERHAD.

The Share Consolidation comprises the following:-

CONSOLIDATION OF EVERY FIVE (5)  ORDINARY SHARES IN KERJAYA PROSPEK PROPERTY BERHAD  (FORMERLY KNOWN AS GSB GROUP BERHAD) ("KPPROP ") ("KPPROP SHARES") INTO ONE (1) ORDINARY SHARE IN KPPROP  ("SHARE CONSOLIDATION")

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

(a) on or after the Ex-date on 29 January 2020, trading of KPPROP shares will be based on the newly adjusted share after the Share Consolidation of KPPROP shares,

(b) on the basis of settlement taking place after 30 January 2020 with consolidated KPPROP shares, any entitled shareholder who owns KPPROP shares as at Ex-date may sell only up to the maximum KPPROP shares he expects to receive after the Share Consolidation, i.e. the reduced amount, on or after the Ex-date 29 January 2020.

With the adjustments pursuant to the Share Consolidation effected on KPPROP shareholders’ CDS account at the end of the Entitlement Date (“Books Closure Date”), an entitled KPPROP shareholder may use the following basis to estimate the maximum number of KPPROP shares that he may sell from the Ex-date until the Book Closing Date which is from 29 January 2020 until 30 January 2020.

Number of  KPROP shares that may be                                    =                   Number of shares held x 0.20  

sold on 29 January 2020 until 30 January 2020      (All fractional shares computed should be disregarded)

Illustration:

For example, if Mr X owns or purchases 1000 KPPROP shares on cum basis on 28 January 2020, his CDS account would still show 1000 KPPROP shares until 30 January 2020. However, as a results of the above Share Consolidation exercise, Mr X’s 1000 KPPROP shares in his CDS account will be adjusted to 200 KPPROP shares on the night of 30 January 2020 which is the Book Closing Date. Therefore, Mr X may, if he so wishes, sells only up to 200 KPPROP shares on or after the Ex-date i.e. from 29 January 2020  onwards.

Participating Organisations are hereby requested to caution all dealers and remisiers that, during the period from 29 January 2020 until 30 January 2020, they are only entitled to sell the maximum of 20% 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 five (5) existing KPPB Shares into one (1) Consolidated Share as at 5.00 p.m. on 30 January 2020, being the entitlement date for the Share Consolidation. Any fractional entitlements arising from the Share Consolidation shall be disregarded. The Consolidated Shares will be listed and quoted on the Main Market of Bursa Malaysia Securities Berhad on 31 January 2020, being the next market day after the entitlement date for the Share Consolidation. The notices of allotment of the Consolidated Shares will be issued and despatched to the entitled shareholders for the Share Consolidation within four (4) market days after the listing and quotation of the Consolidated Shares on the Main Market of Bursa Malaysia Securities Berhad.