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VORTEX CONSOLIDATED BERHAD ("VORTEX" OR "COMPANY") ISSUANCE OF FREE DETACHABLE WARRANTS C IN VORTEX ("WARRANT(S) C") TO THE ENTITLED SHAREHOLDERS OF VORTEX PURSUANT TO THE RENOUNCEABLE RIGHTS ISSUE OF UP TO 364,478,577 NEW ORDINARY SHARES IN VORTEX ("VORTEX SHARE(S)") ("RIGHTS SHARE(S)") ON THE BASIS OF 1 RIGHTS SHARE FOR EVERY 1 EXISTING VORTEX 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")
Each Warrant C carries the entitlement to subscribe for 1 new Vortex Share at the exercise price (as set out above) and at any time during the exercise period (as set out above) ("Exercise Period") subject to the adjustments in accordance with the provisions of the deed poll dated 16 March 2021 constituting the Warrants C. Any Warrants C not exercised during the Exercise Period will thereafter lapse and cease to be valid. If the expiry date of Warrants C does not fall on a market day, the expiry date of Warrants C will be the next preceding market day. This announcement is dated 27 April 2021.