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Bonus issue of 126,070,939 free warrants in Wong Engineering Corporation Berhad ("WECB" or the "Company") ("Warrant(s)") on the basis of 1 Warrant for every 2 existing ordinary shares in WECB held by entitled shareholders of the Company ("Entitled Shareholders") at 5.00 p.m. on 22 April 2022
Each Warrant carries the entitlement to subscribe for 1 new WECB Share at the exercise price of RM0.780 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 maturity date (provided that if such a day is not a market day, then it shall be the market day immediately preceding the said non-market day). The Warrants are subject to the adjustments in accordance with the provisions of the deed poll dated 1 April 2022 constituting the Warrants. Any Warrants not exercised during the Exercise Period will thereafter lapse and cease to be valid for any purpose. This announcement is dated 5 May 2022.