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Issue of 115,829,999 free warrants in Sand Nisko Capital Berhad ("SNC" or "Company") ("Warrants B") on the basis of 1 Warrant B for ever 2 existing ordinary shares in SNC ("SNC Shares") held by entitled shareholders of the Company at 5.00 p.m. on 7 December 2021
Each Warrant B carries the entitlement to subscribe for 1 new SNC Share at the exercise price of RM0.475 at any time during the exercise period (as indicated above) ("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 B dated 22 November 2021. Any Warrants B which are 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. If the maturity date of the Warrants B falls on a non-market day, then it will fall on the preceding market day. This announcement is dated 15 December 2021.