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Free detachable warrants ("New Warrants") issued pursuant to the renounceable rights issue of RM142,581,656.50 nominal value of five (5)-year 5% redeemable convertible unsecured Islamic debt securities ("RCUIDS") at 100% of its nominal value on the basis of two (2) RM0.50 nominal value of RCUIDS for every five (5) existing ordinary shares of RM0.50 each in Hiap Teck Venture Berhad (HTVB) ("HTVB Shares") held as at 5.00 p.m. on 27 May 2016 together with 285,163,313 New Warrants on the basis of one (1) New Warrant for every one (1) RM0.50 nominal value of RCUIDS subscribed
The New Warrants can be exercised at any time on or after the date of issue of the New Warrants up to the Maturity Date (both dates inclusive). Each New Warrant entitles the registered holder during the Exercise Period to subscribe for one (1) new HTVB Share at the Exercise Price, subject to the adjustments in accordance with the provisions of the deed poll dated 10 May 2016 constituting the New Warrants. All New Warrants which have not been exercised on the Maturity Date will lapse and cease to be valid for any purpose. This Announcement is dated 27 June 2016.