Key Terms: Warrants C

Exercise Price & Step-Up Mechanism:

  • The exercise price in respect of each new Share which is subject to a fixed annual step-up of RM0.06 per year on each of the anniversary dates of the date of first issuance of the Warrants (each referred to as “Anniversary Date”), is set out below:
    Year Exercise Price
    Year 1
    20 March 2018 to 19 March 2019     		RM1.00
    Year 2
    20 March 2019 to 19 March 2020     		RM1.06
    Year 3
    20 March 2020 to 19 March 2021     		RM1.12

Exercise Rights :

  • Each Warrant C shall entitle the holder to subscribe for one (1) new Share at the Exercise Price (subject to adjustments in accordance with the provisions of the Deed Poll) at any time during the Exercise Period.

Ranking :

  • The new Shares to be issued upon the exercise of the Warrants C shall, upon allotment and issuance, rank pari passu in all respects with the existing Shares, save and except that such new Shares shall not be entitled to any dividends, rights, allotments and/or any other distributions which may be declared, made or paid to our shareholders, for which the entitlement date is prior to the date of allotment of the new Shares to be issued pursuant to the exercise of the Warrants C.

Exercise Period :

  • Any time commencing from and including the date of issue of the Warrants C, up to 18 March 2021 (being the close of business at 5.00 p.m. in Kuala Lumpur one Market Day prior to the Expiry Date). The Warrants C not exercised during the Exercise Period will thereafter lapse and cease to be valid or have any effect.

Expiry Date :

  • 19 March 2021, being 3 years from the date of issue of Warrants C

Mode and Process for Exercise of Warrants-C :

  • Warrant holders to complete the Form of Subscription of Warrants C (Subscription Form).
  • Warrant holders to lodge the duly completed and signed Subscription Form with the Share Registrar (Tricor Investor & Issuing House Services Sdn Bhd), together with a remittance in Ringgit Malaysia by banker’s draft or cashier’s order drawn on a bank operating in Malaysia or a money order or postal order issued by a post office in Malaysia made out in favour of “ HPB’S WARRANTS EXERCISE ACCOUNT ” (crossed A/C Payee only) for the full amount of the subscription money payable in respect of the Warrants-C exercise and endorsed on the reverse side with name, both old and new NRIC No. / Company No. / Passport No. / Armed Forces No. / Police Personnel No., address and CDS account number of the warrant holder. Any such payment shall be made free of any foreign exchange commissions, remittance charges or other deductions.
  • The Warrant Holder shall pay a total fee of RM20.00 to the Registrar for debiting and crediting of each Securities Account in relation to each subscription transaction.
  • The Company, via its appointed Share Registrar, will process the exercise of Warrants, allot New Shares and despatch the notice of allotment within 8 market days after receipt of this Subscription Form, together with the requisite payment (subject to the requirements of the relevant authorities).
  • Hibiscus Petroleum’s Company Secretary will announce the listing and quotation of the New Shares via Bursa Link by 3pm one (1) market day prior to the listing date of the relevant New Shares.