Contact us
Amended Announcements Please refer to the earlier announcement reference number: LIP-27032018-00010
Issuance of 317,645,723 free warrants in Hibiscus Petroleum Berhad ("Hibiscus Petroleum") ("Warrants C") on the basis of one (1) new Warrant C for every five (5) existing ordinary shares in Hibiscus Petroleum held as at 5.00 p.m. on 16 March 2018
The exercise price of the Warrants C will be adjusted upwards from RM1.00 to RM1.06 per Warrant C effective from 20 March 2019 pursuant to a fixed annual step-up increase of RM0.06 per year on each of the anniversary dates of the first issuance of Warrants C (i.e. 20 March 2018) in accordance with the Deed Poll constituting Warrants C dated 2 March 2018 ("Deed Poll"). The revised exercise price of RM1.06 per Warrant C will be effective for a period of one year from 20 March 2019. The exercise price of Warrants C may be subject to further adjustments in accordance with the provisions of the Deed Poll. The Warrants C can be exercised at any time from the date of its issuance and ending at 5.00 p.m. on 18 March 2021 (being one market day prior to the expiry date of the Warrants C) ("Exercise Period") in accordance with the provisions of the Deed Poll. Any Warrants C not exercised during the Exercise Period will cease to be valid or have any effect for any purpose and will be deemed to have lapsed. This announcement is dated 19 March 2019.