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Amended Announcements Please refer to the earlier announcement reference number: LIP-19082020-00003
ADJUSTMENTS TO THE EXERCISE PRICE AND NUMBER OF OUTSTANDING WARRANTS 2020/2025 OF PERMAJU INDUSTRIES BERHAD ("PERMAJU" OR THE "COMPANY") ("WARRANTS") IN ACCORDANCE WITH THE PROVISIONS OF THE DEED POLL DATED 18 JUNE 2020 CONSTITUTING THE WARRANTS ("DEED POLL") PURSUANT TO THE RENOUNCEABLE RIGHTS ISSUE OF UP TO 2,055,337,076 NEW ORDINARY SHARES IN THE COMPANY ("PERMAJU SHARES" OR "SHARES") ("RIGHTS SHARES") AT AN ISSUE PRICE OF RM0.07 PER RIGHTS SHARE ON THE BASIS OF 1 RIGHTS SHARE FOR EVERY 1 EXISTING SHARE HELD BY THE ENTITLED SHAREHOLDERS OF THE COMPANY AT 5.00 P.M. ON 5 NOVEMBER 2021 ("ENTITLEMENT DATE") ("RIGHTS ISSUE") ("ADJUSTMENTS")
Pursuant to the Adjustments, the exercise price of the Warrants will be revised from RM0.25 per Permaju Share to RM0.23 per Permaju Share. However, the existing number of 93,535,984 Warrants will not be adjusted to ensure compliance with Paragraph 6.50 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad ("Listing Requirements"). Paragraph 6.50 of the Listing Requirements states that a listed issuer must ensure that the number of new shares which will arise from the exercise or conversion of all outstanding convertible equity securities (i.e. warrants and convertible preference shares) does not exceed 50% of the total number of issued shares of the listed issuer (excluding treasury shares and before the exercise of the convertible equity securities) at all times. Please refer to Section 6.5 of the circular to shareholders dated 6 October 2021 for further details. In accordance with the Deed Poll, the Adjustments shall take effect on 8 November 2021, being the next market day immediately after the Entitlement Date. The notice to the holders of Warrants in relation to the Adjustments will be despatched in due course. This announcement is dated 8 November 2021.