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FREE DETACHABLE WARRANTS IN XOX BHD ("XOX") ("WARRANTS B") ISSUED PURSUANT TO THE RENOUNCEABLE RIGHTS ISSUE OF UP TO 2,651,255,354 NEW IRREDEEMABLE CONVERTIBLE PREFERENCE SHARES IN XOX ("ICPS") AT AN ISSUE PRICE OF RM0.025 PER ICPS TOGETHER WITH UP TO 662,813,838 FREE DETACHABLE WARRANTS B ON THE BASIS OF 4 ICPS TOGETHER WITH 1 FREE WARRANT B FOR EVERY 2 EXISTING ORDINARY SHARES IN XOX HELD BY THE ENTITLED SHAREHOLDERS OF XOX AT 5.00 P.M. ON 12 FEBRUARY 2020 ("ENTITLED SHAREHOLDERS")
Each Warrant B carries the entitlement to subscribe for 1 new ordinary share in XOX at the exercise price of RM0.06 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 B dated 23 January 2020. Any Warrant B 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 the Warrants B falls on a non-market day, then it will fall on the preceding market day. This announcement is dated 11 March 2020.