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RENOUNCEABLE RIGHTS ISSUE OF UP TO 643,106,105 IRREDEEMABLE CONVERTIBLE PREFERENCE SHARES IN WZ SATU BERHAD ("WZ SATU") ("RIGHTS ICPS") AT AN ISSUE PRICE OF RM0.11 PER RIGHTS ICPS ON THE BASIS OF 1 RIGHTS ICPS FOR EVERY 1 EXISTING ORDINARY SHARE IN WZ SATU HELD BY THE ENTITLED SHAREHOLDERS AS AT 5:00 P.M. ON 12 APRIL 2021 TOGETHER WITH UP TO 80,388,263 FREE DETACHABLE WARRANTS ("WARRANTS B") ON THE BASIS OF 1 WARRANT B FOR EVERY 8 RIGHTS ICPS SUBSCRIBED ("RIGHTS ISSUE OF ICPS WITH WARRANTS")
The Company shall, at its discretion and subject to the availability of distributable profits, pay cumulative preferential dividend rate of 3.0% per annum calculated based on the issue price of RM0.11 per ICPS. The dividend, if declared, shall be payable annually in arrears, subject to the availability of distributable profits.
Annual basis
The ICPS may be converted into new WZ Satu Shares on any market day commencing on and including the Issue Date of the ICPS up to and including the Maturity Date. Any remaining ICPS that are not converted into new WZ Satu Shares by the Maturity Date shall be mandatorily converted into new Shares at the Conversion Ratio on the Maturity Date. If the conversion results in a fractional entitlement to WZ Satu Shares, such fractional entitlement shall be disregarded and no refund or credit, whether in the form of ICPS, cash or otherwise, shall be given in respect of the disregarded fractional entitlement. This announcement is dated 7 May 2021.