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The Placement Shares will be issued based on a discount of not more than 10% to the
5-day VWAP of the Shares immediately preceding the price-fixing date, to be
determined by the Board after taking into consideration prevailing market conditions.
As the Proposed Private Placement may be implemented in several tranches within 6
months, there could potentially be several price-fixing dates and issue prices.
For illustrative purposes only, based on an illustrative issue price of RM0.3305 per
Placement Share, the issue price of the Placement Shares would represent a discount
of approximately 9.99% to the 5-day VWAP of the Shares up to and including the LPD
of RM0.3672 (Source: Bloomberg)
8. TENTATIVE TIMELINE
The Company intends to complete the implementation of the Proposed Private Placement prior
to the implementation of the Proposed Bonus Issue of Warrants.
The tentative timeline of events leading to the completion of the Proposals is as follows:-
Date Events
18 June 2020 EGM for the Proposals
September 2020 Listing and quotation of the Placement Shares on the Main Market of Bursa
Securities and completion of the Proposed Private Placement
October 2020 Announcement of the exercise price of the Warrants D
Announcement of the Entitlement Date for the Proposed Bonus Issue of
Warrants
Listing and quotation of the Warrants D on the Main Market of Bursa
Securities pursuant to the Proposed Bonus Issue of Warrants and
completion of the Proposed Bonus Issue of Warrants
