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SUNCITY - Entitlement - Others
Announcement Type: Entitlements (Notice of Book Closure)Submitting Merchant Bank: CIMB INVESTMENT BANK BERHADCompany Name: SUNWAY CITY BERHAD
Stock Name: SUNCITY
Date Announced: 11/07/2011
Entitlement date: 08/08/2011
Entitlement time: 05:00:00 PM
Entitlement subject: Others
Entitlement description: CAPITAL REPAYMENT BY WAY OF A CAPITAL REDUCTION EXERCISE PURSUANT TO SECTION 64 OF THE COMPANIES ACT, 1965 ("CAPITAL REDUCTION AND REPAYMENT")
Period of interest payment: to
Share transfer book & register of members will be: 08/08/2011 to 08/08/2011 closed from (both dates inclusive) for the purpose of determining the entitlements
Registrar's name ,address, telephone no: Sunway Management Sdn BhdLevel 16, Menara Sunway,Jalan Lagoon Timur,Bandar Sunway,46150 Petaling Jaya,Selangor Darul Ehsan.Tel: 03 - 5639 8889Fax No.: 03 - 5639 9507
Payment date: 18/08/2011a. Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers: 08/08/2011Entitlement indicator: CurrencyCurrency: Malaysian Ringgit (MYR)Entitlement in Currency: 5.1Remarks: The trading of our Shares on the Main Market of Bursa Malaysia Securities Berhad ("Bursa Securities") will be suspended with effect from 9.00 a.m on Tuesday, 2 August 2011, which is three (3) clear market days prior to the Entitlement Date (as defined herein). Accordingly, the last day of trading of Shares on the Main Market of Bursa Securities prior to suspension shall be 5.00 p.m on Monday, 1 August 2011. The Shares will no longer be traded on the Main Market of Bursa Securities after the trading of Shares is suspended on 2 August 2011. For the avoidance of doubt, the trading of our Shares will continue to be suspended with effect from 9.00 a.m. on 2 August 2011 until the removal of our Company from the Official List of Bursa Securities.
If your name appears in our Record of Depositors at the close of business at 5.00 p.m. on Monday, 8 August 2011 ("Entitlement Date"), you will be entitled to the Capital Reduction and Repayment in respect of:
(i) Shares transferred into your Central Depository System account(s) on or before 4.00 p.m. on Monday, 8 August 2011; and
(ii) Shares bought on Bursa Securities on a cum-entitlement basis according to the rules of Bursa Securities,and shall receive RM5.10 in value for every one (1) Share held on the Entitlement Date (but before the bonus issue of such number of bonus shares ("Bonus Shares") to be credited as fully paid-up in our share capital to the entitled shareholders in the proportion of 4.1 new Shares for every one (1) existing Share as at the Entitlement Date, solely for the purpose of facilitating the Capital Reduction and Repayment), which shall be distributed in the following manner:
(i) an equivalent value in ordinary shares of RM1.00 each in Sunway Berhad (formerly known as Alpha Sunrise Sdn Bhd) ("Sunway") ("Sunway Shares") at RM2.80 per Sunway Share, representing 80% of RM5.10 per Share;
(ii) cash, representing 20% of RM5.10 per Share; and
(iii) new warrants in Sunway ("Sunway Warrants") on the basis of one (1) Sunway Warrant for every five (5) Sunway Shares, to be issued for free.
None of the Bonus Shares will be credited into the individual securities accounts of the respective entitled shareholders since the Bonus Shares will be immediately cancelled pursuant to the Capital Reduction and Repayment.After completion of the Capital Reduction and Repayment, the termination of our employees' share option scheme and the scheme of arrangement under Section 176 of the Companies Act, 1965 to pay our warrant holders RM1.29 in value for every one (1) warrant in Sunway City Berhad ("SunCity") held (payment to be satisfied in the same manner as the Capital Reduction and Repayment), either SunCity or Sunway Holdings Berhad ("SunH") shall be de-listed from the Main Market of Bursa Securities. Sunway shall assume our listing status or SunH's listing status, and be admitted to the Official List of Bursa Securities.Please refer to the Notice to Shareholders dated 12 July 2011 for further information on the suspension of trading of Shares and the Entitlement Date.