The Warrants are issued free pursuant to the Rights Issue With Warrants.

The Warrants may be exercised any time during the tenure of the Warrants of five (5) years including and commencing from the issue date of the Warrants and ending at 5.00 p.m. on the maturity date (a date being five (5) years from and including the date of issue of the Warrants, provided that if such expiry date is not a market day, then it shall be the market day immediately preceding the said non-market day (Exercise Period). 

The rights attached to the Warrants which are not exercised during the Exercise Period will thereafter lapse.

Each Warrant carries the entitlement to subscribe for one (1) new ordinary share in Insas at any time during the Exercise Period at the exercise price of RM0.90 per Warrant, which shall be satisfied fully in cash. In the event any Warrant holders who are also Rights RPS holders, wishes to exercise his Warrants into shares in the Company, he may, instead of paying the requisite monies to the Company for the subscription of shares pursuant to the exercise of their Warrants, have the option to surrender their Rights RPS, at 100% of the issue price of the Rights RPS for the exercise of the Warrants in lieu of the exercise price of the Warrants.  

This option to surrender the Rights RPS for the exercise of the Warrants in lieu of the exercise price of the Warrants applies only to Warrant holders who are also Rights RPS holders, which is a convenience feature to facilitate Warrant holders who are also Rights RPS holders to exercise their Warrants without them having to make any additional payment.  This convenience allows Warrant holders who are also Rights RPS holders, to utilise the proceeds from the surrender of the Rights RPS to pay for the exercise of the Warrants.  This option of convenience does not entail that the Rights RPS is convertible into shares in the Company.

Any Warrant holder who holds the Rights RPS and intends to pay the exercise price of the Warrants by way of surrendering his Rights RPS to the Company, such Rights RPS shall be cancelled by the Company.

The difference between the exercise price of the Warrants (or the adjusted exercise price of the Warrants in accordance with the terms and provisions of the Deed Poll, as the case may be) and the issue price of the Rights RPS shall be repaid by the Company within 1 month from the date the Warrant holder exercising his Warrant.

This announcement is dated 4 March 2021.