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Free detachable warrants in Hua Yang Berhad ("HYB") ("Warrant(s)") issued pursuant to the renounceable rights issue of 88,000,000 new ordinary shares in HYB ("HYB Share(s)" or "Share(s)") ("Rights Share(s)") on the basis of 1 Rights Share for every 4 existing HYB Shares held as at 5.00 p.m. on Monday, 3 October 2022, together with 88,000,000 Warrants on the basis of 1 Warrant for every 1 Rights Share subscribed, at an issue price of RM0.18 per Rights Share ("Rights Issue with Warrants")
Unless otherwise stated, the definitions used herein shall have the same meaning as those defined in the Abridged Prospectus dated 3 October 2022 in relation to the Rights Issue with Warrants. Each Warrant carries the entitlement to subscribe for 1 new HYB Share at the exercise price of RM0.30 at any time during the exercise period of 5 years as indicated above ("Exercise Period"). The Warrants are subject to the adjustments in accordance with the provisions of the deed poll dated 19 September 2022 constituting the Warrants. Any Warrants not exercised during the Exercise Period will thereafter lapse and cease to be valid for any purpose. This announcement is dated 28 October 2022.