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BONUS ISSUE OF 883,303,290 FREE WARRANTS IN TANCO HOLDINGS BERHAD ("TANCO" OR THE "COMPANY") ("WARRANTS C") ON THE BASIS OF 1 WARRANT C FOR EVERY 2 EXISTING ORDINARY SHARES IN TANCO ("TANCO SHARES" OR "SHARES") HELD BY ENTITLED SHAREHOLDERS OF TANCO AT 5.00 P.M. ON 24 AUGUST 2022 ("BONUS ISSUE OF WARRANTS")
Each Warrant C carries the entitlement to subscribe for 1 new Share at the exercise price of RM0.31 at any time during the period commencing on and including 26 August 2022 (being the date of issuance of the Warrants C) and ending on the close of business at 5.00 p.m. on 25 August 2025 (being the expiry of the tenure of the Warrants C) ("Exercise Period"), subject to any adjustments that may be made from time to time in accordance with the provisions of the deed poll constituting the Warrants C dated 18 August 2022. Any Warrant C not exercised during the Exercise Period will thereafter lapse and cease to be valid for any purpose and shall be cancelled and treated to have been cancelled forthwith. If the maturity date of the Warrants C falls on a non-market day, then it will fall on the preceding market day. This announcement is dated 2 September 2022.