QL-C10 - Notice of Book Closure

ADJUSTMENTS TO THE TERMS AND CONDITIONS OF THE NON-COLLATERALISED EUROPEAN-STYLE CASH SETTLED CALL WARRANTS OVER ORDINARY SHARES OF QL RESOURCES BERHAD ("QL") ("QL-C10") PURSUANT TO A BONUS ISSUE OF UP TO 1,216,828,569 NEW ORDINARY SHARES IN QL ("BONUS SHARE(S)") ON THE BASIS OF 1 BONUS SHARE FOR EVERY 2 EXISTING ORDINARY SHARES IN QL HELD BY THE SHAREHOLDERS OF QL AT 5.00 P.M. ON 18 SEPTEMBER 2024 ("ENTITLEMENT DATE") ("BONUS ISSUE")

Kindly be advised of the following :

1) The above Company's securities will be traded and quoted "Ex - Adjustment” as from: 17 Sep 2024
2) The last date of lodgment : 18 Sep 2024

Remarks :

In accordance with Condition 2, Part 1 of the Deed Poll dated 11 October 2023 - Adjustment of Exercise Price, Underlying Index, Exercise Level and/or Exercise Ratio, the Exercise Ratio and Exercise Price of QL-C10 will be adjusted in accordance with the following formula:

Adjustment pursuant to Bonus Issue

1. Adjusted Exercise Ratio = E / (1 + N)

2. Adjusted Exercise Price = X / (1 + N)

Whereby in respect of this Condition 2.1.1(a)(i) and (ii):

X: RM6.9000; being the existing Exercise Price immediately prior to the Bonus Issue

N: 0.5000, being the number of additional Share (whether a whole or a fraction) received by a holder of existing QL Share for each share of QL held prior to the Bonus Issue

E: 7.0000, being the existing Exercise Ratio immediately prior to the Bonus Issue

For avoidance of doubt, reference should be made to the Base Prospectus dated 20 October 2023, the First Supplementary Base Prospectus dated 19 December 2023, the Second Supplementary Base Prospectus dated 26 February 2024, the Third Supplementary Base Prospectus dated 29 March 2024, the Fourth Supplementary Base Prospectus dated 21 May 2024, the Fifth Supplementary Base Prospectus dated 17 July 2024 and the Sixth Supplementary Base Prospectus dated 29 August 2024  and the terms and conditions therein shall prevail.

RHBIB, as the issuer of QL-C10, will make a further announcement should there be any updates in due course.