Renounceable rights issue of up to 617,598,349 new ordinary shares of RM0.05 each in Ho Wah Genting Berhad ("HWGB") ("Rights Share(s)") on the basis of one (1) Rights Share for every one (1) existing ordinary share of RM0.05 each in HWGB together with up to 494,078,679 free detachable warrants ("Warrant(s) D") on the basis of four (4) Warrants D for every five (5) Rights Shares subscribed at 5.00 p.m. on 23 February 2016 at an issue price of RM0.08 per Rights Share payable in full upon acceptance ("Rights Issue With Warrants")
The Warrants D are issued free pursuant to the Rights Issue With Warrants. The Warrants D may be exercised any time during the tenure of the Warrants D of five (5) years including and commencing from the issue date of the Warrants D and ending at 5.00 p.m. on the maturity date (a date being five (5) years from and including the date of issue of the Warrants D, provided that if such day falls on a day which is not a market day, then on the preceding market day) ("Exercise Period"). Each Warrant D carries the entitlement to subscribe for one (1) new ordinary share of RM0.05 each in HWGB at any time during the Exercise Period at the exercise price of RM0.08 per Warrant D ("Exercise Price"), which shall be satisfied fully in cash. Warrants D are constituted by and are subject to the provisions of the deed poll dated 28 January 2016. Warrants D not exercised during the Exercise Period shall thereafter lapse and cease to be valid for any purpose. This announcement is dated 21 March 2016.