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Bonus issue of 95,145,862 warrants ("Warrant(s)") in PESTECH International Berhad ("PESTECH") on the basis of 1 Warrant for every 8 existing ordinary shares in PESTECH ("PESTECH Share(s)" or "Share(s)") held at 5.00 p.m. on 10 December 2021 ("Entitlement Date")
The tenure of the Warrants is seven (7) years commencing from and inclusive of the Issue Date. The Warrants may be exercised at any time commencing on and including the date from the 3rd anniversary date of the Issue Date on 16 December 2024 and ending at 5.00 p.m. in Malaysia on the expiry date on 15 December 2028 (both dates inclusive) ("Exercise Period"). As such, the exercise period of the Warrants is four (4) years. Any Warrants which have not then been exercised will lapse and every Warrant not exercised by then will cease to be valid for any purpose. Each Warrant entitles the registered Warrant holder to subscribe to one (1) new PESTECH Share at any time during the Exercise Period at the Exercise Price, subject to adjustments in accordance with the provisions in the deed poll dated 25 November 2021 constituting the Warrants. This announcement is dated 20 December 2021.