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BONUS ISSUE OF 902,441,557 WARRANTS IN XIDELANG HOLDINGS LTD ("XDL" OR THE "COMPANY") ("WARRANTS D") ISSUED PURSUANT TO THE BONUS ISSUE OF 902,441,557 WARRANTS D ON THE BASIS OF 1 WARRANT D FOR EVERY 2 EXISTING ORDINARY SHARES OF USD0.04 EACH IN XDL ("XDL SHARES" OR "SHARES") HELD BY THE ENTITLED SHAREHOLDERS OF XDL AT 5.00 P.M. ON 17 JANUARY 2019
The exercise price is fixed at RM0.18 per Warrant D or the RM equivalent of the par value of the Shares on the exercise date of the Warrant D based on the middle exchange rate as determined by Bank Negara Malaysia at 9.00 am, whichever is higher ("Exercise Price"). Each Warrant D carries the entitlement to subscribe for 1 new XDL Share at the Exercise Price at any time during the exercise period (as indicated above) ("Exercise Period"), subject to any adjustments that may be made from time to time in accordance with the provisions of the deed poll constituting the Warrants D dated 4 January 2019. Any Warrant D not exercised during the Exercise Period will thereafter lapse and cease to be valid for any purpose and shall be cancelled and treated to have been cancelled forthwith. If the maturity date of Warrants D falls on a non-market day, then it will fall on the preceding market day. This announcement is dated 24 January 2019.