We wish to announce that DAYANG-C1 had expired at 9.00 a.m. on 7 September 2020 ("Expiry Date") and the Cash Settlement Amount shall be calculated as set out below:

Cash Settlement Amount
= Number of DAYANG-C1 exercised x (1/Exercise Ratio) x (Closing Price - Exercise Price) 
= Number of DAYANG-C1 exercised x (1/3.8062) x (RM1.1718 - RM1.9031) 
= Number of DAYANG-C1 exercised x RM0.0000 

The Closing Price of RM1.1718 is the average daily volume weighted average price (VWAP) of the ordinary shares of DAYANG for the five (5) market days prior to and including the market day immediately before the Expiry Date. The DAYANG-C1 is deemed to have been automatically exercised on the Expiry Date.

As the Cash Settlement Amount is less than Zero, warrantholders will not be entitled to receive any payment from us and all outstanding and unexercised DAYANG-C1 will cease to be valid and all our obligations in respect to DAYANG-C1 shall terminate absolutely.


This announcement is dated 7 September 2020.