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ADJUSTMENTS TO THE CONVERSION PRICE, CASH PAYMENT FOR CONVERSION AND NUMBER OF OUTSTANDING IRREDEEMABLE CONVERTIBLE PREFERENCE SHARES OF XOX BHD ("XOX" OR THE "COMPANY") ("ICPS") PURSUANT TO THE CONSOLIDATION OF EVERY 30 EXISTING ORDINARY SHARES IN XOX ("XOX SHARES" OR "SHARES") INTO 1 XOX SHARE ("CONSOLIDATED SHARE") HELD AT 5.00 P.M. ON 30 JULY 2024 ("ENTITLEMENT DATE") ("SHARE CONSOLIDATION") ("ADJUSTMENTS")
Pursuant to the Adjustments, (i) the existing conversion price of ICPS of RM0.05 each will be revised to RM1.50 each; (ii) the existing cash payment for conversion of ICPS (based on the conversion mode of surrendering 1 ICPS with additional cash payment for 1 new XOX Share) of RM0.025 will be revised to RM0.75 each; and (iii) the existing number of 77,971,406 ICPS as at the Entitlement Date will be adjusted into 2,598,871 Consolidated ICPS (after disregarding the fractional entitlements arising from the Adjustments) which will be listed and quoted on the ACE Market of Bursa Malaysia Securities Berhad on 31 July 2024, being the next market day following the Entitlement Date. Further, the Adjustments will take effect from 31 July 2024, being the next market day following the Entitlement Date. The notice to the holders of ICPS (setting out the details of the Adjustments) will be despatched in due course. This announcement is dated 30 July 2024.