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FREE DETACHABLE WARRANTS IN PERMAJU INDUSTRIES BERHAD ("PERMAJU") ("WARRANTS") ISSUED PURSUANT TO THE RENOUNCEABLE RIGHTS ISSUE OF UP TO 936,309,855 NEW IRREDEEMABLE CONVERTIBLE PREFERENCE SHARES IN PERMAJU ("ICPS") AT AN ISSUE PRICE OF RM0.05 PER ICPS TOGETHER WITH UP TO 93,630,985 FREE DETACHABLE WARRANTS ON THE BASIS OF 10 ICPS TOGETHER WITH 1 FREE WARRANT FOR EVERY 2 EXISTING ORDINARY SHARES IN PERMAJU HELD BY THE ENTITLED SHAREHOLDERS OF PERMAJU AT 5.00 P.M. ON 14 JULY 2020 ("ENTITLED SHAREHOLDERS")
Each Warrant carries the entitlement to subscribe for 1 new ordinary share in Permaju at the exercise price of RM0.25 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 dated 18 June 2020. Any Warrant 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 falls on a non-market day, then it will fall on the preceding market day. This announcement is dated 19 August 2020.