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Renounceable rights issue of 1,144,241,731 new ordinary shares in Eastland Equity Bhd. ("Eastland") ("Eastland Shares" or "Shares") ("Rights Shares") on the basis of 19 Rights Shares for every 7 existing Eastland Shares held as at 5.00 p.m. on Monday, 17 January 2022, together with 782,901,982 free detachable warrants in Eastland ("Warrants") on the basis of 13 Warrants for every 19 Rights Shares subscribed for at an issue price of RM0.07 per Rights Share ("Rights Issue with Warrants")
Each Warrant carries the entitlement to subscribe for 1 new Eastland Share at any time during the Exercise Period as indicated above at the exercise price of RM0.085, subject to the adjustments in accordance with the provisions of the deed poll constituting the Warrants dated 3 January 2022. Any Warrants which have not been exercised by the Maturity Date will lapse and cease to be valid for any purpose. This announcement is dated 17 February 2022.