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Free detachable warrants 2020/ 2025 in Prestariang Berhad ("Prestariang") ("Warrant(s) A") issued pursuant to the following:- (i) Private placement of 79,579,740 new ordinary shares in Prestariang ("Prestariang Share(s)") ("Placement Share(s)") to Dr. Abu Hasan Bin Ismail pursuant to the subscription agreement dated 23 July 2020 at an issue price of RM0.350 per Placement Share together with 79,579,740 Warrants A on the basis of 1 Warrant A for every 1 Placement Share issued ("Private Placement with Warrants"); and (ii) Renounceable rights issue of up to 176,843,866 new Prestariang Shares ("Rights Share(s)") on the basis of 1 Rights Share for every 3 existing Prestariang Shares held, together with up to 176,843,866 Warrants A on the basis of 1 Warrant A for every 1 Rights Share subscribed for, as at 5.00 p.m. on Friday, 30 October 2020 at an issue price of RM0.20 per Rights Share ("Rights Issue with Warrants")
Each Warrant A carries the entitlement to subscribe for 1 new Prestariang Share at the exercise price of RM0.385 and at any time during the exercise period of 5 years as indicated above ("Exercise Period") commencing from and including the issue date and ending at 5.00 p.m. on the expiry date (provided that if such a day is not a market day, then it shall be the market day immediately preceding the said non-market day). The Warrants A are subject to the adjustments in accordance with the provisions of the deed poll dated 15 October 2020 constituting the Warrants A. Any Warrants A not exercised during the Exercise Period will thereafter lapse and cease to be valid for any purpose. This announcement is dated 27 November 2020.