Entitlement (Notice of Book Closure)
Reference No: ENT-06112015-00006
Stock Name : ECM
Date Announced : 06/11/2015
Ex-date : 20 Nov 2015
Entitlement date : 24 Nov 2015
Entitlement time : 05:00:00 PM
Entitlement subject : Others
Entitlement description : Distribution by way of capital reduction and special dividend (see remarks)
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 Services Sdn Bhd
Unit 32-01, Level 32, Tower A,
Vertical Business Suite, Avenue 3, Bangsar South,
No. 8 Jalan Kerinchi, 59200 Kuala Lumpur, Malaysia
Phone: (60) 3 2783 9299
Payment date : 07 Dec 2015
a. Securities transferred into the
Depositor 's Securities Account
before 4:00 pm in respect of
: 24 Nov 2015
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 : Currency
Currency : Malaysian Ringgit (MYR)
Entitlement in Currency : 0.9900
Par Value : Malaysian Ringgit (MYR) 1.000
Remarks :    

The distribution comprises of (i) a reduction of ECM Libra Financial Group Berhad's ("ECMLFG") issued and paid-up share capital under Section 64 of the Companies Act, 1965 whereby the par value of each ECMLFG ordinary share ("ECMLFG Share") shall be reduced from RM1.00 to RM0.12 as approved by ECMLFG's shareholders on 20 August 2015 and confirmed by the High Court of Malaya on 28 October 2015; and (ii) special dividend by ECMLFG.

The distribution shall be undertaken by way of a combination of cash of RM0.62 per ECMLFG Share and distribution-in-specie of Eastern & Oriental Berhad ("EOB") ordinary stock units of RM1.00 each ("EOB Stock Units") and warrants of EOB ("EOB Warrants") on the basis of 2 EOB Stock Units for every 9 ECMLFG Shares held and 2 EOB Warrants for every 15 ECMLFG Shares held ("Distribution-In-Specie") as at the Entitlement Date. The Distribution-In-Specie will result in the distribution of 63,687,220 EOB Stock Units and 38,212,332 EOB Warrants based on ECMLFG's existing issued and paid-up share capital.

Based on ECMLFG's existing issued and paid-up share capital, the total distribution involves approximately RM284.62 million, comprising of approximately RM177.69 million cash and RM106.93 million in the form of the Distribution-In-Specie which translates into a total distribution of RM0.99 per ECMLFG Share (based on the last trading prices of RM1.55 for each EOB Stock Unit and RM0.215 for each EOB Warrant on 5 November 2015, being the last trading day prior to the date of this announcement).

The actual total distribution may be higher or lower depending on the market value of the EOB Stock Units and EOB Warrants as at the Entitlement Date. The trading of ECMLFG on the Main Market of Bursa Malaysia Securities Berhad will not be suspended for the purpose of the distribution. ECMLFG shareholders are not required to take any action in respect of the distribution.

ECMLFG shareholders, whose names appear in ECMLFG's Record of Depositors at 5.00 pm on the Entitlement Date (24 November 2015), shall receive cash, EOB Stock Units and EOB Warrants based on their entitlements. ECMLFG shareholders who are entitled to less than 100 EOB Stock Units or EOB Warrants under the Distribution-In-Specie will receive cash of the equivalent value of the actual number of EOB securities that they would otherwise be entitled to receive based on the last trading price of EOB Stock Units and EOB Warrants as at the Entitlement Date.

Upon completion of the capital reduction, the total issued and paid-up ordinary share capital of ECMLFG will be reduced from RM286,592,491 comprising 286,592,491 ECMLFG Shares of par value RM1.00 each to RM34,391,099 comprising 286,592,491 ECMLFG Shares of par value RM0.12 each.

This announcement is dated 6 November 2015.

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