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MMAG HOLDINGS BERHAD ("MMAG" OR "COMPANY") ISSUANCE OF FREE DETACHABLE WARRANTS IN MMAG ("WARRANTS") TO THE ENTITLED SHAREHOLDERS OF MMAG PURSUANT TO THE RENOUNCEABLE RIGHTS ISSUE OF UP TO 1,453,434,366 NEW ORDINARY SHARES IN MMAG ("SHARES") ("RIGHTS SHARES") ON THE BASIS OF 6 RIGHTS SHARES FOR EVERY 1 SHARE HELD AS AT 5.00 P.M. ON 21 DECEMBER 2023 AT AN ISSUE PRICE OF RM0.10 PER RIGHTS SHARE, TOGETHER WITH UP TO 726,717,183 FREE WARRANTS ON THE BASIS OF 1 WARRANT FOR EVERY 2 RIGHTS SHARES SUBSCRIBED FOR ("RIGHTS ISSUE")
Each Warrant carries the entitlement to subscribe for 1 new Share at the exercise price (as set out above) and at any time during the exercise period (as set out above) ("Exercise Period") subject to the adjustments in accordance with the provisions of the deed poll dated 7 December 2023 constituting the Warrants. Any Warrants not exercised during the Exercise Period will thereafter lapse and cease to be valid. If the maturity date of the Warrants falls on a non-market day, then it will fall on the preceding market day. This announcement is dated 22 January 2024.