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FREE DETACHABLE WARRANTS IN FITTERS DIVERSIFIED BERHAD ("FITTERS" OR THE "COMPANY") ("WARRANTS") ISSUED PURSUANT TO THE RENOUNCEABLE RIGHTS ISSUE OF UP TO 1,862,402,877 NEW ORDINARY SHARES IN FITTERS ("FITTERS SHARES" OR "SHARES") ("RIGHTS SHARES") AT AN ISSUE PRICE OF RM0.065 PER RIGHTS SHARE TOGETHER WITH UP TO 1,241,601,918 FREE DETACHABLE WARRANTS IN THE COMPANY ("WARRANTS") ON THE BASIS OF 3 RIGHTS SHARES TOGETHER WITH 2 FREE WARRANTS FOR EVERY 1 EXISTING SHARE HELD BY THE ENTITLED SHAREHOLDERS OF THE COMPANY AT 5.00 P.M. ON 17 MARCH 2023
Each Warrant carries the entitlement to subscribe for 1 new FITTERS Share at the exercise price of RM0.07 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 dated 28 February 2023. Any Warrants 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 falls on a non-market day, then it will fall on the preceding market day. The announcement is dated 14 April 2023.