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VORTEX CONSOLIDATED BERHAD (FORMERLY KNOWN AS SKH CONSORTIUM BERHAD) ("VORTEX" OR THE "COMPANY") ISSUANCE OF FREE DETACHABLE WARRANTS IN VORTEX ("WARRANT(S)") TO THE ENTITLED SHAREHOLDERS OF VORTEX PURSUANT TO THE RENOUNCEABLE RIGHTS ISSUE OF UP TO 60,988,584 NEW ORDINARY SHARES IN VORTEX ("VORTEX SHARE(S)" OR "SHARE(S)") ("RIGHTS SHARE(S)") ON THE BASIS OF 1 RIGHTS SHARE FOR EVERY 5 EXISTING SHARES HELD AS AT 5.00 P.M. ON 12 APRIL 2019 ("ENTITLEMENT DATE") AT AN ISSUE PRICE OF RM0.15 PER RIGHTS SHARE, TOGETHER WITH UP TO 60,988,584 WARRANTS ON THE BASIS OF 1 WARRANT FOR EVERY 1 RIGHTS SHARE SUBSCRIBED FOR ("RIGHTS ISSUE OF SHARES WITH WARRANTS")
Each Warrant carries the entitlement to subscribe for 1 new Vortex Share at the exercise price (as set out above) and at any time during the exercise period (as set out above) ("Exercise Period") subject to the adjustments in accordance with the provisions of the deed poll dated 29 March 2019 constituting the Warrants. Any Warrants not exercised during the Exercise Period will thereafter lapse and cease to be valid. This announcement is dated 14 May 2019.