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Issuance of 179,423,296 free detachable warrants ("Warrants") to the entitled shareholders of Sunzen Biotech Berhad ("Sunzen") pursuant to the renounceable rights issue of 179,423,296 new ordinary shares of RM0.10 each in Sunzen ("Sunzen Shares") ("Rights Shares") on the basis of three (3) Rights Shares for every five (5) existing Sunzen Shares held as at 5.00 p.m. on 3 February 2016 at an issue price of RM0.25 per Rights Share, together with 179,423,296 free detachable warrants ("Warrants") on the basis of one (1) Warrant for every one (1) Rights Share subscribed for ("Rights Issue of Shares with Warrants")
Each Warrant carries the entitlement to subscribe for one (1) new Sunzen Share at the exercise price (as indicated above) and at any time during the exercise period (as indicated above) ("Exercise Period") subject to the adjustments in accordance with the provisions of the deed poll dated 18 January 2016, 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 3 March 2016.