The Company refers to its recent one (1) for four (4) non-renounceable pro-rata entitlement issue priced at $0.006 per new share announced on 30 November 2020 (Rights Issue).

As a result of the Rights Issue, the Company gives notice that the exercise price of its existing unlisted options to subscribe for PNX shares will be adjusted in accordance with the terms and conditions of issue of the options, effective on 24 December 2020.