HIBISCS-PA

2.010

(%)

Full Exercise/Conversion/Redemption of the Securities before expiry/maturity

HIBISCUS PETROLEUM BERHAD

Instrument Category Securities of PLC
Instrument Type Preference Shares
Type Of Expiry Full Exercise/Conversion/Redemption of the Securities before expiry/maturity
Date & Time of Suspension 10 Mar 2022 09:00 AM
Date & Time for Delisting 28 Mar 2022 09:00 AM


Remarks :
In accordance with the terms of the Islamic convertible redeemable preference shares ("CRPS"), as the net proceeds raised from the issuance of first and second tranche of CRPS ("CRPS-T1" and "CRPS-T2" respectively) were fully utilised by Peninsula Hibiscus Sdn Bhd for the acquisition of the entire issued share capital of Fortuna International Petroleum Corporation, Hibiscus Petroleum Berhad ("the Company") will proceed to mandatorily convert all outstanding non-converted CRPS-T2 into new ordinary shares in the Company ("New Shares"). There are no outstanding non-converted CRPS-T1 as they have been fully converted.

The mandatory conversion of CRPS-T2 may result in fractional entitlement of New Shares. Such fractional entitlement shall be disregarded and no refund or credit, whether in the form of CRPS, cash or otherwise, shall be given in respect of the disregarded fractional entitlement.

Please refer to the attachment.

Please refer attachment below.



Announcement Info

Company Name HIBISCUS PETROLEUM BERHAD
Stock Name HIBISCS-PA
Date Announced 24 Feb 2022
Category Expiry/Maturity/Termination of Securities
Reference Number EOS-21022022-00002