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FREE DETACHABLE WARRANTS 2024/2029 IN DESTINI BERHAD ("DESTINI") ("WARRANT(S)") ISSUED PURSUANT TO THE RENOUNCEABLE RIGHTS ISSUE OF 3,327,063,258 NEW ORDINARY SHARES IN DESTINI ("DESTINI SHARE(S)") ("RIGHTS SHARE(S)") AT THE ISSUE PRICE OF RM0.04 PER RIGHTS SHARE, ON THE BASIS OF 2 RIGHTS SHARES FOR EVERY 1 EXISTING DESTINI SHARE HELD, TOGETHER WITH 1,663,531,629 WARRANTS ON THE BASIS OF 1 WARRANT FOR EVERY 2 RIGHTS SHARES SUBSCRIBED FOR, AS AT 5.00 P.M. ON WEDNESDAY, 28 FEBRUARY 2024 ("RIGHTS ISSUE WITH WARRANTS")
Each Warrant carries the entitlement to subscribe for 1 new Destini Share at the exercise price of RM0.054 and at any time during the exercise period of 5 years as indicated above ("Exercise Period") commencing from and including the issue date and ending at 5.00 p.m. on the maturity date (provided that if such a day is not a market day, then it shall be the market day immediately preceding the said non-market day). The Warrants are subject to the adjustments in accordance with the provisions of the deed poll dated 26 January 2024 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 12 March 2024.