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STRAITS INTER LOGISTICS BERHAD (FORMERLY KNOWN AS RAYA INTERNATIONAL BERHAD) ("STRAITS" OR COMPANY) FREE DETACHABLE WARRANTS ("WARRANTS") ISSUED PURSUANT TO THE RENOUNCEABLE RIGHTS ISSUE OF NEW ORDINARY SHARES IN STRAITS ("STRAITS SHARE") ("RIGHTS SHARES") ON THE BASIS OF ONE (1) RIGHTS SHARE FOR EVERY ONE (1) EXISTING STRAITS SHARE HELD AS AT 5.00 P.M. ON 19 JULY 2017, TOGETHER WITH FREE DETACHABLE NEW WARRANTS ("WARRANTS") ON THE BASIS OF ONE (1) WARRANT FOR EVERY ONE (1) RIGHTS SHARE SUBSCRIBED BY THE ENTITLED SHAREHOLDERS ("RIGHTS ISSUE OF SHARES WITH WARRANTS")
The Warrants are issued to the entitled shareholders of Straits pursuant to the Rights Issue of Shares with Warrants. Each Warrant carries the entitlement to subscribe for one (1) new Straits Share at the exercise price (as indicated above) and at any time during the exercise period (as indicated above) (Exercise Period) subject to the adjustments in accordance with the provisions of the deed poll dated 4 July 2017, 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 15 August 2017.