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Free Warrants B 2017/ 2022 in P.A. Resources Berhad ("PARB") ("Warrant(s) B") issued pursuant to the renounceable rights issue of up to 757,225,327 new ordinary shares in PARB ("PARB Share(s)") ("Rights Share(s)") on the basis of four (4) Rights Shares for every five (5) existing PARB Shares held, together with up to 757,225,327 free detachable Warrants B on the basis of one (1) free Warrant B for every one (1) Rights Share subscribed for, as at 5.00 p.m. on Wednesday, 22 November 2017 at an issue price of RM0.05 per Rights Share ("Rights Issue with Warrants")
Each Warrant B carries the entitlement to subscribe for one (1) new PARB Share at the exercise price of RM0.06 and at any time during the exercise period of five (5) years as indicated above ("Exercise Period") commencing from and including the issue date and ending at 5.00 p.m. on the expiry date (provided that if such a day is not a market day, then it shall be the market day immediately preceding the said non-market day). The Warrants B are subject to the adjustments in accordance with the provisions of the deed poll dated 8 November 2017, constituting the Warrants B. Any Warrants B not exercised during the Exercise Period will thereafter lapse and cease to be valid for any purpose. This announcement is dated 21 December 2017.