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FREE DETACHABLE WARRANTS IN TWL HOLDINGS BERHAD ("TWL" OR "COMPANY") ("WARRANTS E") ISSUED PURSUANT TO THE RENOUNCEABLE RIGHTS ISSUE OF UP TO RM111,279,632 NOMINAL VALUE OF 5,563,981,607 5-YEAR 5% REDEEMABLE CONVERTIBLE UNSECURED LOAN STOCKS IN THE COMPANY ("RCULS") AT 100% OF ITS NOMINAL VALUE OF RM0.02 EACH TOGETHER WITH UP TO 1,112,796,321 WARRANTS E ON THE BASIS OF 10 RCULS TOGETHER WITH 2 FREE WARRANTS E FOR EVERY 10 EXISTING ORDINARY SHARES IN THE COMPANY HELD BY THE ENTITLED SHAREHOLDERS OF THE COMPANY AT 5.00 P.M. ON 19 MAY 2023
Each Warrant E carries the entitlement to subscribe for 1 new TWL Share at the exercise price of RM0.030 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 E dated 26 April 2023. Any Warrant E 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 E falls on a non-market day, then it will fall on the market day immediately preceding the said date. This announcement is dated 19 June 2023.