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Amended Announcements Please refer to the earlier announcement reference number: LIP-02022021-00004
VORTEX CONSOLIDATED BERHAD ("VORTEX" OR "COMPANY") ADJUSTMENTS TO THE EXERCISE PRICE AND NUMBER OF OUTSTANDING WARRANTS 2019/2024 IN VORTEX AS CONSTITUTED BY THE DEED POLL DATED 29 MARCH 2019 ("DEED POLL B") ("WARRANTS B") PURSUANT TO THE RENOUNCEABLE RIGHTS ISSUE OF UP TO 364,478,577 NEW ORDINARY SHARES IN VORTEX ("VORTEX SHARE(S)" OR "SHARE(S)") ("RIGHTS SHARE(S)") ON THE BASIS OF 1 RIGHTS SHARE FOR EVERY 1 EXISTING SHARE HELD AS AT 5.00 P.M. ON 30 MARCH 2021 ("ENTITLEMENT DATE") AT AN ISSUE PRICE OF RM0.17 PER RIGHTS SHARE, TOGETHER WITH UP TO 291,582,861 FREE DETACHABLE WARRANTS C ("WARRANTS C") ON THE BASIS OF 4 WARRANTS C FOR EVERY 5 RIGHTS SHARES SUBSCRIBED FOR ("RIGHTS ISSUE")
Pursuant to the adjustments to the exercise price and number of outstanding Warrants B arising from the Rights Issue ("Adjustments"), (i) the existing number of 14,763,424 Warrants B as at the Entitlement Date will be adjusted into 18,430,501 Warrants B (after disregarding the fractional entitlements arising from the Adjustments), whereby the additional 3,667,077 Warrants B will be listed and quoted on the ACE Market of Bursa Malaysia Securities Berhad on 28 April 2021; and (ii) the exercise price of Warrant B of RM0.60 each will be revised to RM0.45 each. The additional Warrants B arising from the Adjustments were issued based on the entitlement ratio of 0.2484 : 1.0000 (additional Warrants B : existing number of outstanding Warrants B as at the Entitlement Date). The notice setting out the details of the Adjustments to the holders of Warrants B was despatched to entitled Warrants B holders on 26 April 2021. This announcement is dated 27 April 2021.