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ADJUSTMENTS TO THE EXERCISE PRICE AND THE NUMBER OF OUTSTANDING WARRANTS 2014/2024 IN WZ SATU BERHAD ("WZ SATU OR COMPANY") ("WARRANTS A") IN ACCORDANCE WITH THE PROVISIONS OF THE DEED POLL DATED 9 OCTOBER 2014 CONSTITUTING THE WARRANTS A ("DEED POLL A") PURSUANT TO RENOUNCEABLE RIGHTS ISSUE OF UP TO 643,106,105 IRREDEEMABLE CONVERTIBLE PREFERENCE SHARES IN WZ SATU ("RIGHTS ICPS") AT AN ISSUE PRICE OF RM0.11 PER RIGHTS ICPS ON THE BASIS OF 1 RIGHTS ICPS FOR EVERY 1 EXISTING ORDINARY SHARE IN WZ SATU HELD BY THE ENTITLED SHAREHOLDERS AS AT 5:00 P.M. ON 12 APRIL 2021 ("ENTITLEMENT DATE") TOGETHER WITH UP TO 80,388,263 FREE DETACHABLE WARRANTS ("WARRANTS B") ON THE BASIS OF 1 WARRANT B FOR EVERY 8 RIGHTS ICPS SUBSCRIBED ("RIGHTS ISSUE OF ICPS WITH WARRANTS")
Following the Rights Issue of ICPS with Warrants, the exercise price of the outstanding Warrants A will be revised from RM0.38 to RM0.28 each while 51,800,538 additional Warrants A will be listed and quoted on the Main Market of Bursa Malaysia Securities Berhad on 10 May 2021 (collectively referred to as the " Adjustments"). Further, in accordance with the provisions of the Deed Poll A constituting the Warrants A, the Adjustments will take effect on 13 April 2021, being the next market day immediately after the Entitlement Date for the Rights Issue of ICPS with Warrants. The notice to the holders of Warrants A setting out the details of the Adjustments as well as the notice of allotment of the additional Warrants A will be despatched in due course. This announcement is dated 13 April 2021.