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Issuance of redeemable convertible preference shares ("RCPS") of EVD Berhad ("EVD") to the entitled shareholders pursuant to the following:- (i) acquisition of EVD Engineering Sdn Bhd; and (ii) exchange of all the RCPS in iDImension Consolidated Bhd ("ICB") with new EVD RCPS on the basis of one (1) EVD RCPS for every one (1) existing ICB RCPS in relation to the securities exchange.
Redeemable for cash at the option of EVD at any time during the tenure of the EVD RCPS on the basis of RM0.025 for every one (1) EVD RCPS
Based on the conversion price of RM0.10 ("Conversion Price"), the EVD RCPS may be converted into EVD shares in the following manner:- (i) four (4) EVD RCPS for one (1) new EVD Share; or (ii) a combination of such number of EVD RCPS and cash with an aggregate value equal to the Conversion Price, subject to a minimum of one (1) EVD RCPS, and paying the difference between the aggregate value of the EVD RCPS surrendered and the Conversion Price in cash for one (1) new EVD Share. The EVD RCPS holders will have the right to convert the EVD RCPS based on the conversion ratio above into new EVD Shares through the surrender of the EVD RCPS from the date of issue up to and including the maturity date. If the conversion results in a fractional entitlement to the ordinary shares of EVD, such fractional entitlement shall be disregarded and no refund or credit, whether in the form of the EVD RCPS, cash or otherwise, shall be given in respect of the disregarded fractional entitlement. For avoidance of doubt, the existing ICB RCPS in issue is expiring on 26 April 2032. In this respect, the conversion period of the EVD RCPS shall also expire on the same date of 26 April 2032. This announcement is dated 30 June 2022.