| Description |
Renounceable rights issue of up to 643,106,105 Irredeemable Convertible Preference Share in WZ Satu Berhad ("WZ Satu") ("Rights ICPS") at an issue price of RM0.11 per Rights ICPS on the basis of 1 Rights ICPS for every 1 existing ordinary share in WZ Satu ("Shares") held by the entitled shareholders as at 5.00 p.m. on 12 April 2021 together with up to 80,388,263 free detachable warrants ("Warrants B") on the basis of 1 Warrant B for every 8 Rights ICPS subscribed ("Rights Issue of ICPS with Warrants") |
| To specify the entitlement that the holders of the Rights Securities will not be entitled to |
The Rights ICPS are unsecured obligations and shall upon allotment and issuance, rank equally amongst themselves and shall rank in priority to any other class of ordinary shares in the capital in WZ Satu but shall rank behind all secured and unsecured obligations of WZ Satu, except that:
(a) they will not be entitled to any rights, allotments and/or other distributions that may be declared by WZ Satu in respect of the Shares; and
(b) they carry no right to vote at any general meeting of WZ Satu except (i) on a proposal that directly affects the rights and privileges attached to the Rights ICPS; (ii) on a proposal to wind-up WZ Satu and (iii) during the winding-up of WZ Satu. |