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HENG HUAT RESOURCES GROUP BERHAD ("HENG HUAT" OR THE "COMPANY") ISSUANCE OF FREE DETACHABLE WARRANTS IN HENG HUAT ("WARRANTS") TO THE ENTITLED SHAREHOLDERS OF HENG HUAT PURSUANT TO THE RENOUNCEABLE RIGHTS ISSUE OF 46,235,733 NEW ORDINARY SHARES IN HENG HUAT ("HENG HUAT SHARES") ("RIGHTS SHARES") ON THE BASIS OF 1 RIGHTS SHARE FOR EVERY 2 EXISTING HENG HUAT SHARES HELD AS AT 5.00 PM ON 13 APRIL 2021 ("ENTITLEMENT DATE") AT AN ISSUE PRICE OF RM0.20 PER RIGHTS SHARE, TOGETHER WITH 69,353,589 WARRANTS ON THE BASIS OF 3 WARRANTS FOR EVERY 2 RIGHTS SHARES SUBSCRIBED FOR ("RIGHTS ISSUE")
Each Warrant carries the entitlement to subscribe for 1 new Heng Huat 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 30 March 2021 constituting the Warrants. Any Warrants not exercised during the Exercise Period will thereafter lapse and cease to be valid. If the maturity date of the Warrants falls on a non-market day, then it will fall on the preceding market day. This announcement is dated 12 May 2021.