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FREE DETACHABLE WARRANTS IN OVERSEA ENTERPRISE BERHAD ("OVERSEA" OR "COMPANY") ("WARRANTS B") ISSUED PURSUANT TO THE RENOUNCEABLE RIGHTS ISSUE OF UP TO 1,583,196,991 NEW ORDINARY SHARES IN THE COMPANY ("OVERSEA SHARES" OR "SHARES") ("RIGHTS SHARES") AT AN ISSUE PRICE OF RM0.06 PER RIGHTS SHARE TOGETHER WITH UP TO 527,732,330 FREE WARRANTS B ON THE BASIS OF 3 RIGHTS SHARES TOGETHER WITH 1 FREE WARRANT B FOR EVERY 3 EXISTING SHARES HELD BY THE ENTITLED SHAREHOLDERS OF THE COMPANY AT 5.00 P.M. ON 28 JULY 2023
Each Warrant B carries the entitlement to subscribe for 1 new OVERSEA Share at the exercise price of RM0.060 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 10 July 2023. Any Warrant B 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 market day immediately preceding the said date. This announcement is dated 25 August 2023.