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ADJUSTMENTS TO THE EXERCISE PRICE AND NUMBER OF OUTSTANDING WARRANTS 2018/2023 IN ONLY WORLD GROUP HOLDINGS BERHAD ("OWG" OR "COMPANY") ("WARRANT(S) A") 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 IN OWG ("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 ("ENTITLEMENT DATE") ("RIGHTS ISSUE WITH WARRANTS") ("ADJUSTMENTS")
Pursuant to the Adjustments, the exercise price of the Warrants A has been revised from RM0.80 to RM0.70 and an additional 17,189,050 Warrants A will be listed and quoted on the Main Market of Bursa Malaysia Securities Berhad on 2 December 2020. Further, in accordance with the provisions of the deed poll dated 12 September 2018, the Adjustments took effect on 4 November 2020, being the next market day following the Entitlement Date for the Rights Issue with Warrants. The notice to the holders of Warrants A (setting out the details of the Adjustments) has been despatched on 30 November 2020. This announcement is dated 1 December 2020.