Amended Announcements Please refer to the earlier announcement reference number: LIP-16052019-00003
ADJUSTMENTS TO THE EXERCISE PRICE AND NUMBER OF OUTSTANDING WARRANTS 2019/2022 IN NI HSIN RESOURCES BERHAD ("NI HSIN" OR "COMPANY") ("WARRANTS") IN ACCORDANCE WITH THE PROVISIONS OF THE DEED POLL DATED 24 APRIL 2019 CONSTITUITING THE WARRANTS, PURSUANT TO THE RENOUNCEABLE RIGHTS ISSUE OF UP TO 960,100,350 REDEEMABLE CONVERTIBLE PREFERENCE SHARES IN NI HSIN ("RCPS") AT AN ISSUE PRICE OF RM0.01 PER RCPS ON THE BASIS OF 2 RCPS FOR 1 EXISTING ORDINARY SHARE IN NI HSIN HELD BY THE ENTITLED SHAREHOLDERS AT 5.00 P.M. ON 5 FEBRUARY 2021 ("RIGHTS ISSUE OF RCPS")
Pursuant to the Warrant Adjustments, (i) the existing number of 92,484,524 Warrants will be adjusted into 141,509,747 Warrants, whereby the additional 49,025,223 Warrants will be listed and quoted on the Main Market of Bursa Malaysia Securities Berhad on 8 March 2021; and (ii) the existing exercise price of Warrants was adjusted from RM0.138 to RM0.050 each. In accordance with the provisions of the Deed Poll, the Warrant Adjustments shall take effect on 8 February 2021, being the next market day following the Entitlement Date. The notice to the holders of Warrants (setting out the details of the Warrant Adjustments) will be despatched on 8 March 2021. This announcement is dated 5 March 2021.