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FREE DETACHABLE WARRANTS IN FSBM HOLDINGS BERHAD ("FSBM" OR THE "COMPANY") ("WARRANTS") ISSUED PURSUANT TO THE RENOUNCEABLE RIGHTS ISSUE OF UP TO 236,659,300 NEW ORDINARY SHARES IN FSBM ("FSBM SHARES") ("RIGHTS SHARES") ON THE BASIS OF 1 RIGHTS SHARE FOR EVERY 1 EXISTING FSBM SHARE HELD AS AT 5.00 P.M. ON FRIDAY, 25 AUGUST 2023, TOGETHER WITH UP TO 118,329,650 FREE WARRANTS IN FSBM ("WARRANT") ON THE BASIS OF 1 WARRANT FOR EVERY 2 RIGHTS SHARES SUBSCRIBED FOR AT AN ISSUE PRICE OF RM0.03 PER RIGHTS SHARE
Each Warrant carries the entitlement to subscribe for 1 new FSBM Share at the exercise price of RM0.05 at any time during the exercise period of 5 years as indicated above ("Exercise Period") commencing from and including the issue date and ending at 5.00 p.m. on the expiry date (provided that if such a day is not a market day, then it shall be the market day immediately preceding the said non-market day). The Warrants are subject to adjustments in accordance with the provisions of the deed poll dated 11 August 2023 constituting the Warrants. Any Warrant not exercised during the Exercise Period will thereafter lapse and cease to be valid for any purpose. This announcement is dated 25 September 2023.