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ADJUSTMENTS TO THE EXERCISE PRICE AND NUMBER OF OUTSTANDING WARRANTS 2019 / 2024 OF LAMBO GROUP BERHAD ("LAMBO" OR THE "COMPANY") ("WARRANTS B") AS SPECIFIED IN THE DEED POLL DATED 15 APRIL 2019 ("DEED POLL B") PURSUANT TO THE CONSOLIDATION OF EVERY 25 EXISTING ORDINARY SHARES IN LAMBO ("LAMBO SHARES" OR "SHARES") HELD AT 5.00 P.M. ON 26 JULY 2021 ("ENTITLEMENT DATE") INTO 1 LAMBO SHARE ("CONSOLIDATED SHARE") ("SHARE CONSOLIDATION") ("ADJUSTMENTS")
Pursuant to the Adjustments, (i) the existing number of 1,051,058,992 Warrants B as at the Entitlement Date will be adjusted into 42,042,350 Warrants B (after disregarding the fractional entitlements arising from the Adjustments) which will be listed and quoted on the ACE Market of Bursa Malaysia Securities Berhad on 27 July 2021; and (ii) the existing exercise price of Warrants B will be revised from RM0.16 to RM4.00 each. Further, in accordance with the provisions of the Deed Poll B, the Adjustments will take effect from 27 July 2021, being the next market day following the Entitlement Date. The notice to the holders of Warrants B (setting out the details of the Adjustments) will be despatched in due course. This announcement is dated 26 July 2021.