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Issuance of 491,279,410 warrants in Scomi Group Bhd ("Scomi") ("Warrants") pursuant to the: (i) bonus issue of 477,765,360 Warrants on the basis of 1 Warrant for every 2 existing ordinary shares held in Scomi ("Shares"); and (ii) issuance of 13,514,050 Warrants arising from the merger of Scomi Engineering Bhd with Scomi to be undertaken by way of a members scheme of arrangement pursuant to Section 366 of the Companies Act 2016
Each Warrant carries the entitlement to subscribe for 1 new Share at the exercise price of RM0.21 and at any time during the exercise period, subject to any adjustments made in accordance with the provisions of the deed poll dated 30 January 2018 constituting the Warrants. Any Warrants not exercised during the exercise period will thereafter lapse and cease to be valid for any purpose. This announcement is dated 21 February 2018.