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FREE DETACHABLE WARRANTS IN AT SYSTEMATIZATION BERHAD ("ATS") ("WARRANTS C") ISSUED PURSUANT TO THE RENOUNCEABLE RIGHTS ISSUE OF UP TO 997,966,616 NEW ORDINARY SHARES IN ATS (''ATS SHARES'' OR ''SHARES'') (''RIGHTS SHARES'') AT AN ISSUE PRICE OF RM0.035 PER RIGHTS SHARE TOGETHER WITH UP TO 748,474,962 FREE DETACHABLE WARRANTS C ON THE BASIS OF 4 RIGHTS SHARES TOGETHER WITH 3 FREE WARRANTS C FOR EVERY 2 EXISTING ATS SHARES HELD BY THE ENTITLED SHAREHOLDERS OF ATS AT 5.00 P.M. ON 16 MARCH 2020 ("ENTITLED SHAREHOLDERS")
Each Warrant C carries the entitlement to subscribe for 1 new ATS Share at the exercise price of RM0.035 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 C dated 26 February 2020. Any Warrant C 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 C falls on a non-market day, then it will fall on the preceding market day. This announcement is dated 21 May 2020.