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FREE DETACHABLE WARRANTS IN M N C WIRELESS BERHAD ("MNC") ("WARRANTS B") ISSUED PURSUANT TO THE RENOUNCEABLE RIGHTS ISSUE OF UP TO 3,769,226,735 NEW IRREDEEMABLE CONVERTIBLE PREFERENCE SHARES IN MNC ("ICPS") AT AN ISSUE PRICE OF RM0.03 PER ICPS TOGETHER WITH UP TO 75,384,534 FREE DETACHABLE WARRANTS B ON THE BASIS OF 50 ICPS TOGETHER WITH 1 FREE WARRANT B FOR EVERY 10 EXISTING ORDINARY SHARES IN MNC HELD BY THE ENTITLED SHAREHOLDERS OF MNC AT 5.00 P.M. ON 7 AUGUST 2019 ("ENTITLED SHAREHOLDERS")
Each Warrant B carries the entitlement to subscribe for 1 new ordinary share in MNC at the exercise price of RM0.06 at any time during the exercise period (as indicated above) ("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 B dated 18 July 2019. Any Warrant B 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 B falls on a non-market day, then it will fall on the preceding market day. This announcement is dated 12 September 2019.