NIHSIN-WB - Notice of Book Closure

ADJUSTMENTS TO THE EXERCISE PRICE AND NUMBER OF OUTSTANDING WARRANTS 2019/2022 IN NI HSIN RESOURCES BERHAD ("NI HSIN" OR "COMPANY") ("WARRANTS") IN ACCORDANCE WITH THE PROVISIONS OF THE DEED POLL DATED 24 APRIL 2019 CONSTITUITING THE WARRANTS, PURSUANT TO THE RENOUNCEABLE RIGHTS ISSUE OF UP TO 960,100,350 REDEEMABLE CONVERTIBLE PREFERENCE SHARES ("RCPS") AT AN ISSUE PRICE OF RM0.01 PER RCPS ON THE BASIS OF 2 RCPS FOR EACH EXISTING ORDINARY SHARE IN NI HSIN HELD BY THE ENTITLED SHAREHOLDERS OF NI HSIN ON 5 FEBRUARY 2021 AT 5.00 P.M. ("RIGHT ISSUE OF RCPS")
 

Kindly be advised of the following : 

1)  The above Company's securities will be traded and quoted "Ex - Adjustment” as from: 4 Feb 2021
2)  The last date of lodgment : 5 Feb 2021
 

Remarks :
The Notice of Book Closure in relation to the Rights Issue of RCPS had been announced separately today. 

Following the Rights Issue of RCPS, the exercise price and the number of outstanding Warrants 2019/2022 ("Warrants") shall be adjusted in accordance with the provisions of the deed poll dated 24 April 2019 governing the terms and conditions of the Warrants ("Adjustments"). 

The additional Warrants arising from the Adjustments will be allotted and issued to the Warrant holders whose names appear in the Record of Depositors of Ni Hsin at 5.00 pm on 5 February 2021 ("Entitlement Date"). The entitlement ratio indicated above is for illustration only (details of which are set out in the Circular to shareholders dated 13 October 2020) and the actual Adjustments shall be finalised on the Entitlement Date. 

The actual number of the additional Warrants to be allotted and issued would depend on the number of outstanding Warrants as at the Entitlement Date. The Adjustments will take effect on the next market day following the Entitlement Date and a notice to Warrant holders on the Adjustments will be despatched to the Warrant holders in due course. 

The additional Warrants will be listed and quoted simultaneously with the RCPS on the Main Market of Bursa Malaysia Securities Berhad on 8 March 2021.