Contact us
ADJUSTMENTS TO THE EXERCISE PRICE AND NUMBER OF OUTSTANDING WARRANTS 2021/2024 OF OVERSEA ENTERPRISE BERHAD ("OVERSEA" OR "COMPANY") ("WARRANTS A") IN ACCORDANCE WITH THE PROVISIONS OF THE DEED POLL DATED 23 FEBRUARY 2021 CONSTITUTING THE WARRANTS A ("DEED POLL A") PURSUANT TO THE RENOUNCEABLE RIGHTS ISSUE OF UP TO 1,583,196,991 NEW ORDINARY SHARES IN THE COMPANY ("OVERSEA SHARES" OR "SHARES") ("RIGHTS SHARES") AT AN ISSUE PRICE OF RM0.06 PER RIGHTS SHARE TOGETHER WITH UP TO 527,732,330 FREE DETACHABLE WARRANTS IN THE COMPANY ("WARRANTS B") ON THE BASIS OF 3 RIGHTS SHARES TOGETHER WITH 1 FREE WARRANT B FOR EVERY 3 EXISTING SHARES HELD BY THE ENTITLED SHAREHOLDERS OF THE COMPANY AT 5.00 P.M. ON 28 JULY 2023 ("ENTITLEMENT DATE") ("RIGHTS ISSUE WITH WARRANTS") ("ADJUSTMENTS")
Pursuant to the Adjustments, (i) the existing number of 436,526,991 Warrants A will be adjusted to 595,857,528 Warrants A, whereby the additional 159,330,537 Warrants A ("Additional Warrants A") has been allotted and issued on 23 August 2023 to the entitled holders of Warrants A whose names appear on the Record of Depositors of OVERSEA at 5.00pm on 28 July 2023. The Additional Warrants A will be listed and quoted on the ACE Market of Bursa Malaysia Securities Berhad on 28 August 2023 simultaneously with the Rights Shares and Warrants B; and (ii) the exercise price of the Warrants A will be revised from RM0.16 per OVERSEA Share to RM0.12 per OVERSEA Share. The additional Warrants A were issued based on the entitlement ratio of 0.364997:1.000000 (Additional Warrants A: number of outstanding Warrants A held as at the Entitlement Date) and after disregarding fractional entitlements. This announcement is dated 25 August 2023.