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IRREDEEMABLE CONVERTIBLE UNSECURED LOAN STOCK ("ICULS") ISSUED PURSUANT TO THE RENOUNCEABLE RIGHTS ISSUE OF UP TO RM102,578,353 NOMINAL VALUE OF FIVE (5)-YEAR, 0.10% ICULS AT 100.0% OF ITS NOMINAL VALUE OF RM0.05 EACH ("RIGHTS ICULS") ON THE BASIS OF FIVE (5) RIGHTS ICULS FOR EVERY ONE (1) EXISTING ORDINARY SHARE OF TECHBASE INDUSTRIES BERHAD ("TIB SHARE") HELD AS AT 5.00 P.M. ON MONDAY, 4 MARCH 2024
0.10% per annum
Annually
Based on the conversion price of RM0.20 ("Conversion Price"), the ICULS may be converted into new TIB Shares in the following manner:- (i) by surrendering four (4) ICULS equivalent to the Conversion Price for one (1) new TIB Share (''Non-Cash Option''); or (ii) by surrendering such number of ICULS together with cash such that in aggregate it amounts to the Conversion Price, subject to a minimum of one (1) ICULS and paying the difference between the aggregate value of the ICULS surrendered and the Conversion Price in cash for one (1) new TIB Share. The holders of ICULS shall have the right on any market day after the issue date and up to 5.00 p.m. on the maturity date ("Maturity Date") to convert such amount of ICULS held into new TIB Shares at the Conversion Price. The ICULS will not be redeemable for cash. All outstanding ICULS will be mandatorily converted into new TIB Shares on the Maturity Date on a Non-Cash Option basis. Any fractional new TIB Shares arising from the conversion of the ICULS will be disregarded and shall be dealt with in such manner as the Board of Directors of TIB shall in its absolute discretion deem fit, expedient and in the best interests of TIB. This announcement is dated 4 April 2024.