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Bonus issue of 352,080,075 warrants of MAG Holdings Berhad ("MAG") ("Warrants C") on the basis of 1 Warrant C for every 4 existing ordinary shares in MAG held as at 5.00 p.m. on 2 November 2021 ("Entitlement Date") ("Bonus Issue of Warrants")
Each Warrant C carries the entitlement to subscribe for 1 new MAG Share at any time during the exercise period as indicated above ("Exercise Period") at the exercise price of RM0.16, subject to the adjustments in accordance with the provisions of the deed poll constituting the Warrants C dated 15 October 2021. Any Warrants C which are not exercised during the Exercise Period will thereafter lapse and cease to be valid and shall be cancelled and treated to have been cancelled forthwith. This announcement is dated 12 November 2021.