WARRANTS IN GADANG HOLDINGS BERHAD ("GADANG") ("WARRANT(S)") ISSUED PURSUANT TO THE BONUS ISSUE OF 129,311,689 WARRANTS ON THE BASIS OF ONE (1) WARRANT FOR EVERY FOUR (4) EXISTING ORDINARY SHARES OF RM0.50 EACH HELD IN GADANG AT 5.00 P.M. ON FRIDAY, 25 NOVEMBER 2016, AFTER THE COMPLETION OF THE SHARE SPLIT ("BONUS ISSUE OF WARRANTS")
Each Warrant carries the entitlement to subscribe for one (1) new ordinary share of RM0.50 each in Gadang at the exercise price of RM1.06 each, which shall be satisfied in cash and at any time during the exercise period as indicated above ("Exercise Period") subject to the adjustments in accordance with the provisions of the deed poll dated 11 November 2016 constituting the Warrants. Any Warrants not exercised during the Exercise Period will thereafter lapse and cease to be valid for any purpose. This announcement is dated 2 December 2016.