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IRREDEEMABLE CONVERTIBLE UNSECURED LOAN STOCK ("ICULS") ISSUED PURSUANT TO THE RENOUNCEABLE RIGHTS ISSUE OF RM48,361,671.80 NOMINAL VALUE OF FIVE (5)-YEAR, 0.10%, ICULS AT 100% OF ITS NOMINAL VALUE OF RM0.04 EACH ("RIGHTS ICULS") ON THE BASIS OF FIVE (5) RIGHTS ICULS FOR EVERY ONE (1) EXISTING ORDINARY SHARE IN YB VENTURES BERHAD ("YBVB") HELD AS AT 5.00 P.M. ON WEDNESDAY, 11 AUGUST 2021
0.10% per annum
Annually
Based on the conversion price of RM0.48 ("Conversion Price"), the ICULS may be converted into new YBVB Shares in the following manner:- (i) by surrendering nominal value of ICULS equivalent to the Conversion Price; or (ii) by surrendering such number of ICULS together with cash such that in aggregate it amounts to the Conversion Price, subject to a minimum of one (1) ICULS and paying the difference between the aggregate value of the ICULS surrendered and the Conversion Price in cash for one (1) new YBVB Share. The holders of ICULS shall have the right on any market day from and including the issue date of the ICULS up to and including the maturity date of the ICULS ("Maturity Date") to convert such amount of ICULS held into new YBVB Shares at the Conversion Price. The ICULS will not be redeemable for cash. All outstanding ICULS will be mandatorily converted into new YBVB Shares on the Maturity Date. Any fractional new YBVB Shares arising from the conversion of the ICULS will be disregarded and shall be dealt with in such manner as the Board of Directors of YBVB shall in its absolute discretion deem fit, expedient and in the best interests of YBVB. This announcement is dated 9 September 2021.