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Issuance of 56,824,679 free warrants ("Warrants") in AWC Berhad ("AWC") on the basis of one (1) Warrant for every five (5) existing ordinary shares in AWC ("AWC Shares") held as at 5:00 p.m. on 20 December 2018
The Warrants are exercisable into new AWC Shares at any time after the 3rd anniversary of the date of issuance of the Warrants and ending on the market day immediately before the 5th anniversary of the date of issuance of the Warrants ("Exercise Period"). Each Warrant entitles the registered holder of the Warrants to subscribe for one (1) new AWC Share at the exercise price of RM0.88 per new AWC Share during the Exercise Period, subject to adjustments in accordance with the provisions of the deed poll dated 6 December 2018 constituting the Warrants. Any Warrants not exercised during the Exercise Period will thereafter lapse and cease to be valid. This Announcement is dated 31 December 2018.