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ISSUANCE OF 1,513,399,754 FREE DETACHABLE WARRANTS IN UMW OIL & GAS CORPORATION BERHAD ("UMW-OG") ("WARRANTS") ISSUED PURSUANT TO THE: (I) RENOUNCEABLE RIGHTS ISSUE OF 4,836,727,688 NEW ORDINARY SHARES ON THE BASIS OF 14 RIGHTS SHARES FOR EVERY 5 SHARES HELD TOGETHER WITH 1,209,181,678 WARRANTS ON THE BASIS OF 1 WARRANT FOR EVERY 4 RIGHTS SHARES SUBSCRIBED ("RIGHTS ISSUE WITH WARRANTS"); AND (II) SUBSCRIPTION OF 1,216,872,312 NEW ISLAMIC REDEEMABLE CONVERTIBLE PREFERENCE SHARES ("RCPS-i") TOGETHER WITH 304,218,076 WARRANTS ON THE BASIS OF 1 WARRANT FOR EVERY 4 RCPS-i SUBSCRIBED BY PNB AND/OR OTHER PNB FUNDS ("SUBSCRIPTION")
Each Warrant carries the entitlement to subscribe for 1 new UMW-OG Share at the exercise price of RM0.395, exercisable at any time after 19 April 2018 (being six (6) months from the Issue Date), up to 5.00 p.m. of the Maturity Date ("Exercise Period"), subject to any adjustments that may be made from time to time in accordance with the provisions of the deed poll constituting the Warrants dated 8 September 2017. Any Warrants not exercised during the Exercise Period will thereafter lapse and cease to be valid for any purpose and shall be cancelled and treated to have been cancelled forthwith. This announcement is dated 24 October 2017.