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BONUS ISSUE OF 166,274,800 FREE WARRANTS ("WARRANTS") ON THE BASIS OF 2 WARRANTS FOR EVERY 5 EXISTING SPRING ART SHARES HELD AT 5.00 P.M. ON 23 FEBRUARY 2021 ("BONUS ISSUE OF WARRANTS")
Each Warrant carries the entitlement to subscribe for 1 new Spring Art Share at any time during the exercise period as indicated above ("Exercise Period") at the exercise price of RM0.28, subject to the adjustments in accordance with the provisions of the deed poll constituting the Warrants dated 8 February 2021. Any Warrants which are not exercised during the Exercise Period will thereafter lapse and cease to be valid and shall be cancelled and treated to have been cancelled forthwith. This announcement is dated 3 March 2021.