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ADJUSTMENTS TO THE EXERCISE PRICE AND NUMBER OF OUTSTANDING WARRANTS 2021/2024 IN KOMARKCORP BERHAD ("KOMARKCORP") AS CONSTITUTED BY THE DEED POLL DATED 6 JANUARY 2021 ("DEED POLL C") ("WARRANTS C") PURSUANT TO THE RENOUNCEABLE RIGHTS ISSUE OF UP TO 817,817,238 NEW ORDINARY SHARES IN KOMARKCORP ("KOMARKCORP SHARES" OR "SHARES") ("RIGHTS SHARES") AT AN ISSUE PRICE OF RM0.08 PER RIGHTS SHARE TOGETHER WITH UP TO 272,605,746 FREE DETACHABLE WARRANTS IN KOMARKCORP ("WARRANTS D") ON THE BASIS OF 3 RIGHTS SHARES TOGETHER WITH 1 FREE WARRANT D FOR EVERY 3 EXISTING SHARES HELD BY THE ENTITLED SHAREHOLDERS OF KOMARKCORP AT 5.00 P.M. ON 29 MAY 2023 ("RIGHTS ISSUE WITH WARRANTS")
Pursuant to the adjustments to the exercise price and number of outstanding Warrants C arising from the Rights Issue with Warrants ("Adjustments"), (i) the existing number of 240,460,690 Warrants C as at 5.00 p.m. on 29 May 2023 will be adjusted into 305,864,459 Warrants C (after disregarding the fractional entitlements arising from the Adjustments), whereby the additional 65,403,769 Warrants C will be listed and quoted on the Main Market of Bursa Malaysia Securities Berhad on 28 June 2023; and (ii) the exercise price of Warrants C of RM0.56 each will be revised to RM0.43 each. The additional Warrants C arising from the Adjustments were issued based on the entitlement ratio of 0.2720: 1.0000 (additional Warrants C: existing number of outstanding Warrants C as at the Entitlement Date). The notice setting out the details of the Adjustments to the holders of Warrants C was despatched to entitled Warrant C holders on 23 June 2023. The announcement is dated 27 June 2023.