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RENOUNCEABLE RIGHTS ISSUE OF UP TO 644,632,276 NEW ORDINARY SHARES IN VSOLAR GROUP BERHAD ("VSOLAR" OR THE "COMPANY") ("VSOLAR SHARES" OR "SHARES") ("RIGHTS SHARES") AT AN ISSUE PRICE OF RM0.10 PER RIGHTS SHARE TOGETHER WITH UP TO 322,316,138 FREE DETACHABLE WARRANTS ("WARRANTS C") ON THE BASIS OF 4 RIGHTS SHARES TOGETHER WITH 2 WARRANTS C FOR EVERY 1 EXISTING VSOLAR SHARE HELD AS AT 5.00 P.M. ON THURSDAY, 7 MARCH 2024 ("RIGHTS ISSUE WITH WARRANTS")
The Warrants C may be exercised any time during the tenure of the Warrants C of 3 years including and commencing from the issue date of the Warrants C and ending at 5.00 p.m. on the Expiry Date (being a date being 3 years from and including the date of issue of the Warrants C, provided that if such day falls on a day which is not a market day, then on the preceding market day). Each Warrant C carries the entitlement to subscribe for 1 new ordinary share in Vsolar at the Exercise Price which shall be satisfied fully in cash and shall be subject to the adjustments in accordance with the terms and provisions of the Deed Poll C during the Exercise Period. This announcement is dated 3 April 2024.