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V.S. INDUSTRY BERHAD ("VSI" OR "COMPANY") BONUS ISSUE OF 761,848,258 FREE WARRANTS IN VSI ("WARRANT(S)") ON THE BASIS OF 1 WARRANT FOR EVERY 5 EXISTING ORDINARY SHARES IN VSI ("VSI SHARE(S)") HELD BY THE SHAREHOLDERS OF VSI WHOSE NAMES APPEAR ON VSI'S RECORD OF DEPOSITORS AS AT 5.00 P.M. ON 10 JUNE 2021 ("BONUS ISSUE OF WARRANTS")
The Warrants can be exercised at any time on or after the date of issue of the Warrants up to Expiry Date (both dates inclusive). Each Warrant entitles the registered holder during the Exercise Period to subscribe for one (1) new VSI Share in the share capital of VSI at the Exercise Price, subject to adjustments in accordance with the provisions in the Deed Poll dated 21 May 2021.