Issuance of 333,387,142 free warrants in MAG Holdings Berhad (formerly known as XingHe Holdings Berhad) ("MAG" or "Company") ("Warrant(s)") on the basis of one (1) Warrant for every two (2) ordinary shares in MAG held at 5.00 p.m. on 26 August 2020 ("Free Warrants Issue")
Each Warrant carries the entitlement to subscribe for 1 new ordinary share in MAG at the exercise price of RM0.23 at any time during the exercise period as indicated above ("Exercise Period"), subject to any adjustments to be made in accordance with the provisions of the deed poll dated 10 August 2020 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 7 September 2020.