We wish to announce that INARI-C53 had expired at 9.00 a.m. on 7 September 2020 ("Expiry Date") and the Cash Settlement Amount shall be calculated as set out below:

Cash Settlement Amount
= Number of INARI-C53 exercised x (1/Exercise Ratio) x (Closing Price - Exercise Price) 
= Number of INARI-C53 exercised x (1/3) x (RM2.2829 - RM2.5000) 
= Number of INARI-C53 exercised x RM0.0000 

The Closing Price of RM2.2829 is the average daily volume weighted average price (VWAP) of the ordinary shares of INARI for the five (5) market days prior to and including the market day immediately before the Expiry Date. The INARI-C53 is deemed to have been automatically exercised on the Expiry Date.

As the Cash Settlement Amount is less than Zero, warrantholders will not be entitled to receive any payment from us and all outstanding and unexercised INARI-C53 will cease to be valid and all our obligations in respect to INARI-C53 shall terminate absolutely.


This announcement is dated 7 September 2020.