Listing Information and Profile

19/03/2019

Profile for Securities of PLC

Amended Announcements
Please refer to the earlier announcement reference number: LIP-27032018-00010

HIBISCUS PETROLEUM BERHAD

Instrument Category Securities of PLC
Instrument Type Warrants
Description 
Issuance of 317,645,723 free warrants in Hibiscus Petroleum Berhad ("Hibiscus Petroleum") ("Warrants C") on the basis of one (1) new Warrant C for every five (5) existing ordinary shares in Hibiscus Petroleum held as at 5.00 p.m. on 16 March 2018
Listing Date 28 Mar 2018
Issue Date 20 Mar 2018
Issue/ Ask Price Not Applicable
Issue Size Indicator Unit
Issue Size in Unit 317,645,723
Maturity Mandatory
Maturity Date 18 Mar 2021
Revised Maturity Date
Name of Guarantor Not Applicable
Name of Trustee Not Applicable
Coupon/Profit/Interest/Payment Rate Not Applicable
Coupon/Profit/Interest/Payment Frequency Not Applicable
Redemption Not Applicable
Exercise/Conversion Period 3.00   Year(s)
Revised Exercise/Conversion Period Not Applicable
Exercise/Strike/Conversion Price Malaysian Ringgit (MYR)   1.0000
Revised Exercise/Strike/Conversion Price Malaysian Ringgit (MYR)   1.0600
Exercise/Conversion Ratio 1:1
Revised Exercise/Conversion Ratio Not Applicable
Mode of satisfaction of Exercise/ Conversion price Cash
Settlement Type/ Convertible into Physical (Shares)



Remarks : 
The exercise price of the Warrants C will be adjusted upwards from RM1.00 to RM1.06 per Warrant C effective from 20 March 2019 pursuant to a fixed annual step-up increase of RM0.06 per year on each of the anniversary dates of the first issuance of Warrants C (i.e. 20 March 2018) in accordance with the Deed Poll constituting Warrants C dated 2 March 2018 ("Deed Poll"). The revised exercise price of RM1.06 per Warrant C will be effective for a period of one year from 20 March 2019.

The exercise price of Warrants C may be subject to further adjustments in accordance with the provisions of the Deed Poll.

The Warrants C can be exercised at any time from the date of its issuance and ending at 5.00 p.m. on 18 March 2021 (being one market day prior to the expiry date of the Warrants C) ("Exercise Period") in accordance with the provisions of the Deed Poll. Any Warrants C not exercised during the Exercise Period will cease to be valid or have any effect for any purpose and will be deemed to have lapsed. 


This announcement is dated 19 March 2019.

Announcement Info

Company Name HIBISCUS PETROLEUM BERHAD
Stock Name HIBISCS-WC
Date Announced 19 Mar 2019
Category Listing Information and Profile
Reference Number LIP-14032019-00001


Related Announcements for HIBISCS-WC
Date Title
19/03/2020 Profile for Securities of PLC
27/03/2018 Profile for Securities of PLC