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FREE DETACHABLE WARRANTS IN ONLY WORLD GROUP HOLDINGS BERHAD ("OWG" OR "COMPANY") ("WARRANTS B") ISSUED PURSUANT TO THE RENOUNCEABLE RIGHTS ISSUE OF UP TO 160,259,996 NEW ORDINARY SHARES IN OWG ("OWG SHARE(S)") ("RIGHTS SHARE(S)") AT AN ISSUE PRICE OF RM0.21 PER RIGHTS SHARE TOGETHER WITH UP TO 80,129,998 FREE DETACHABLE WARRANTS B ON THE BASIS OF 2 RIGHTS SHARES TOGETHER WITH 1 FREE WARRANT B FOR EVERY 5 EXISTING OWG SHARES HELD BY THE ENTITLED SHAREHOLDERS OF THE COMPANY AT 5.00 P.M. ON 3 NOVEMBER 2020 ("RIGHTS ISSUE WITH WARRANTS")
Each Warrant B carries the entitlement to subscribe for 1 new OWG Share at the exercise price of RM0.34 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 2 October 2020. Any Warrant B not exercised during the Exercise Period will thereafter lapse and cease to be valid for any purpose. 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 1 December 2020.