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Amended Announcements Please refer to the earlier announcement reference number: LIP-25102022-00001
ADJUSTMENTS TO THE CONVERSION PRICE OF IRREDEEMABLE CONVERTIBLE PREFERENCE SHARES IN M N C WIRELESS BERHAD ("MNC" OR THE "COMPANY") ("ICPS") AND CASH PAYMENT FOR CONVERSION OF ICPS PURSUANT TO THE RENOUNCEABLE RIGHTS ISSUE OF UP TO 750,631,428 NEW ORDINARY SHARES IN MNC ("MNC SHARES" OR "SHARES") ("RIGHTS SHARES") AT AN ISSUE PRICE OF RM0.04 PER RIGHTS SHARE, TOGETHER WITH UP TO 250,210,476 FREE DETACHABLE WARRANTS IN MNC ("WARRANTS D") ON THE BASIS OF 3 RIGHTS SHARES TOGETHER WITH 1 FREE WARRANT D FOR EVERY 1 EXISTING SHARE HELD BY THE ENTITLED SHAREHOLDERS OF MNC AT 5.00 P.M. ON 15 APRIL 2026 ("ENTITLEMENT DATE") ("RIGHTS ISSUE WITH WARRANTS") ("ADJUSTMENTS")
Please refer to below.
The Company has full discretion over the declaration of dividends, if any. Dividends declared and payable annually in arrears are non-cumulative and shall be paid in priority over the ordinary shares of the Company.
Pursuant to the Adjustments, (i) the conversion price of ICPS of RM0.60 each will be revised to RM0.31 each; and (ii) the cash payment for conversion of ICPS (based on the conversion mode of surrendering 1 ICPS with additional cash payment for 1 new MNC Share) of RM0.30 will be revised to RM0.16 each. The notice setting out the details of the Adjustments to the holders of ICPS was despatched on 16 April 2026. This announcement is dated 14 May 2026.