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Bonus issue of 3,448,033,541 free warrants in Borneo Oil Berhad ("Bornoil" or the "Company") ("Warrant(s) E") on the basis of 1 Warrant E for every 4 existing ordinary shares in Bornoil held by the entitled shareholders of the Company at 5.00 p.m. on 19 March 2025
Each Warrant E carries the entitlement to subscribe for 1 new Bornoil Share at the exercise price of RM0.01 and at any time during the exercise period of 5 years as indicated above ("Exercise Period") commencing from and including the issue date and ending at 5.00 p.m. on the expiry date, subject to the adjustments in accordance with the provisions of the deed poll dated 3 March 2025 constituting the Warrants E. Any Warrants E not exercised during the Exercise Period will thereafter lapse and cease to be valid for any purpose. If the expiry date of the Warrants E falls on a non-market day, then it shall be the market day immediately preceding the said non-market day. This announcement is dated 25 March 2025.