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INDUSTRONICS BERHAD ("INDUSTRONICS" OR THE "COMPANY") ISSUANCE OF FREE DETACHABLE WARRANTS IN INDUSTRONICS ("WARRANTS") TO THE ENTITLED SHAREHOLDERS OF INDUSTRONICS PURSUANT TO THE RENOUNCEABLE RIGHTS ISSUE OF 270,058,985 NEW ORDINARY SHARES IN INDUSTRONICS ("SHARES") ("RIGHTS SHARES") ON THE BASIS OF 2 RIGHTS SHARES FOR EVERY 1 EXISTING SHARE HELD AS AT 5.00 P.M. ON 23 DECEMBER 2022 ("ENTITLEMENT DATE"), AT AN ISSUE PRICE OF RM0.08 PER RIGHTS SHARE, TOGETHER WITH 202,544,237 FREE DETACHABLE WARRANTS ("WARRANTS") ON THE BASIS OF 3 WARRANTS FOR EVERY 4 RIGHTS SHARES SUBSCRIBED FOR ("RIGHTS ISSUE")
Each Warrant carries the entitlement to subscribe for 1 new Share at the exercise price (as set out above) and at any time during the exercise period (as set out above) (Exercise Period) subject to the adjustments in accordance with the provisions of the deed poll dated 9 December 2022 constituting the Warrants. Any Warrants not exercised during the Exercise Period will thereafter lapse and cease to be valid. If the maturity date of the Warrants falls on a non-market day, then it will fall on the preceding market day. This announcement is dated 26 January 2023.