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ISSUANCE OF 540,050,650 FREE WARRANTS IN JAKS RESOURCES BERHAD ("JRB" OR "COMPANY") ("WARRANTS") PURSUANT TO THE RENOUNCEABLE RIGHTS ISSUE OF UP TO 1,292,073,304 NEW ORDINARY SHARES IN JRB ("JRB SHARES") ("RIGHTS SHARES") AT AN ISSUE PRICE OF RM0.22 PER RIGHTS SHARE TOGETHER WITH UP TO 646,036,652 FREE DETACHABLE WARRANTS IN JRB ("WARRANTS") ON THE BASIS OF 8 RIGHTS SHARES TOGETHER WITH 4 WARRANTS FOR EVERY 5 EXISTING ORDINARY SHARES IN JRB HELD AS AT 5.00 P.M. ON TUESDAY, 27 OCTOBER 2020 ("ENTITLEMENT DATE") ("RIGHTS ISSUE WITH WARRANTS")
Each Warrant carries the entitlement to subscribe for 1 new ordinary share in JRB at the exercise price of RM0.49 at any time during the exercise period as indicated above ("Exercise Period"), subject to any adjustments to be made in accordance with the provisions of the deed poll dated 13 October 2020 constituting the Warrants. Any Warrants not exercised during the Exercise Period will thereafter lapse and cease to be valid for any purpose. This announcement is dated 25 November 2020.