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ZEN TECH INTERNATIONAL BERHAD (FORMERLY KNOWN AS INIX TECHNOLOGIES HOLDINGS BERHAD) ("ZTIB" OR "COMPANY") ISSUANCE OF FREE DETACHABLE WARRANTS IN ZTIB ("WARRANTS") TO THE ENTITLED SHAREHOLDERS OF ZTIB PURSUANT TO THE RENOUNCEABLE RIGHTS ISSUE OF UP TO 1,616,864,884 NEW ORDINARY SHARES IN ZTIB ("ZTIB SHARES") ("RIGHTS SHARES") ON THE BASIS OF 2 RIGHTS SHARE FOR EVERY 1 EXISTING ZTIB SHARE HELD AS AT 5.00 P.M. ON 9 JANUARY 2023 AT AN ISSUE PRICE OF RM0.015 PER RIGHTS SHARE, TOGETHER WITH UP TO 1,077,909,922 FREE DETACHABLE WARRANTS ON THE BASIS OF 2 WARRANTS FOR EVERY 3 RIGHTS SHARES SUBSCRIBED FOR ("RIGHTS ISSUE")
Each Warrant carries the entitlement to subscribe for 1 new ZTIB 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 22 December 2022 constituting the Warrants. Any Warrants not exercised during the Exercise Period will thereafter lapse and cease to be valid. If the expiry date of Warrants does not fall on a market day, the expiry date of Warrants shall be the market day immediately preceding such non-market day. This announcement is dated 10 February 2023.