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ADJUSTMENTS TO THE EXERCISE PRICE AND NUMBER OF OUTSTANDING WARRANTS 2021/2024 OF BSL CORPORATION BERHAD ("BSLCORP" OR "COMPANY") ("WARRANTS A") IN ACCORDANCE WITH THE PROVISIONS OF THE DEED POLL DATED 27 OCTOBER 2021 CONSTITUTING THE WARRANTS A ("DEED POLL A") PURSUANT TO THE RENOUNCEABLE RIGHTS ISSUE OF UP TO 2,354,494,986 NEW ORDINARY SHARES IN BSLCORP ("BSLCORP SHARES" OR "SHARES") ("RIGHTS SHARES") AT AN ISSUE PRICE OF RM0.055 PER RIGHTS SHARE TOGETHER WITH UP TO 981,039,577 FREE DETACHABLE WARRANTS IN THE COMPANY ("WARRANTS B") ON THE BASIS OF 12 RIGHTS SHARES TOGETHER WITH 5 FREE WARRANTS B FOR EVERY 2 EXISTING SHARES HELD BY THE ENTITLED SHAREHOLDERS OF THE COMPANY AT 5.00 P.M. ON 8 FEBRUARY 2023 ("ENTITLEMENT DATE") ("RIGHTS ISSUE WITH WARRANTS") ("ADJUSTMENTS")
Pursuant to the Adjustments, (i) the existing number of 72,583,089 Warrants A will be adjusted to 142,458,195 Warrants A, whereby the additional 69,875,106 Warrants A ("Additional Warrants A") has been allotted and issued on 10 March 2023 to the entitled holders of Warrants A whose names appear on the Record of Depositors of BSLCORP at 5.00pm on 8 February 2023. The Additional Warrants A will be listed and quoted on the Main Market of Bursa Malaysia Securities Berhad on 15 March 2023 simultaneously with the Rights Shares and Warrants B; and (ii) the exercise price of the Warrants A will be revised from RM0.50 per BSLCORP Share to RM0.25 per BSLCORP Share. The additional Warrants A were issued based on the entitlement ratio of 0.9627:1.0000 (Additional Warrants A: number of outstanding Warrants A held as at the Entitlement Date) and after disregarding fractional entitlements. The notice to the holders of Warrants A in relation to the Adjustments and the notice of allotment for the Additional Warrants A will be despatched in due course. This announcement is dated 14 March 2023.