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[TIMECOM] Capital Repayment and Capital Restructuring

Can anyone explain to me what this is?
After reading the announcement several time i still don't understand but it sounds bad to me.

Illustration from the announcement:

For example, if Mr X owns or purchases 1000 TIMECOM shares (of RM1.00 par value each) on cum basis on 10 May 2012, his CDS account would
still show 1000 TIMECOM shares (of RM1.00 par value each)) until 15 May 2012. However, as a result of the above Capital Repayment and Capital Restructuring exercise, Mr X’s 1000 TIMECOM shares of RM1.00 each in his CDS account will be adjusted to 200 TIMECOM shares of RM0.50 each on the night of 15 May 2012 which is the Book Closing Date. Therefore Mr X may, if he so wishes, sells only up to 200 TIMECOM shares of RM0.50 each on or after the Ex-date i.e. from 11 May 2012 onwards.

Does it mean i that 1000unit@RM1 become 200unit@RM0.50??

P/S: I am new in stock
cb alex!
i think it mean it will consolidate 1000/5=200 unit
but value remain the same. say u have 1000 unit at RM1.00
after that day it will become 200 unit at RM5.00
TIMECOM ex on Friday so Mr.X will own 200 shares at par value of RM0.50. Not sure what it will show on CDS though. TIMECOM is worth RM3.55 ... hold
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