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O&C RESOURCES BERHAD (FORMERLY KNOWN AS TAKASO RESOURCES BERHAD) ("OCR" OR THE "COMPANY") Issuance of 66,141,269 free detachable warrants ("Warrants") to the entitled shareholders of OCR pursuant to the renounceable rights issue of 661,412,697 new irredeemable convertible preference shares of RM0.05 each in OCR ("ICPS") on the basis of three (3) ICPS for every one (1) existing ordinary share of RM0.25 each in OCR ("OCR Share" or "Share") held as at 5.00 p.m. on 15 June 2016 ("Entitlement Date"), together with 66,141,269 Warrants on the basis of one (1) Warrant for every ten (10) ICPS ("Rights Issue of ICPS With Warrants")
Each Warrant carries the entitlement to subscribe for one (1) new OCR 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 1 June 2016, 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 27 July 2016.