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Issuance of up to 150,774,529 warrants in KPower Berhad (formerly known as Kumpulan Powernet Berhad) ("KPower" or the "Company") ("Warrant(s) A") to the existing shareholders of KPower on the basis of 1 Warrant A for every 3 existing ordinary shares held in KPower held as at 5.00 p.m. on 13 January 2021
Each Warrant A carries the entitlement to subscribe for 1 new KPower Share at the exercise price of RM2.50 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 28 December 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 22 January 2021.