We refer to the Company’s announcements in relation to the notice of unconditional take-over offer by the Offeror and the Ultimate Offeror dated 27 September 2021 and the non-compliance of public shareholding spread dated 11 November 2021, 22 December 2021, 24 January 2022, 23 February 2022, 30 May 2022, 17 June 2022, 29 August 2022, 21 December 2021 and 5 December 2022 (“Announcements”).

Bursa Securities has, vide its letter dated 20 December 2022, granted the Company a further extension of time of six (6) months until 17 June 2023 to comply with public shareholding spread requirement pursuant to paragraph 8.02(1) of the Listing Requirements.

Based on the Company’s Record of Depositors dated 25 January 2023, the public shareholdings spread of the Company was 16.55% and that the Company has yet to comply with the public shareholding spread requirement.

Subsequent to the approval by the disinterested shareholders of the Company for the proposed selective capital reduction and repayment exercise of the Company at the Extraordinary General Meeting held on 2 February 2023 (“Proposed SCR”), the Company had, on 13 February 2023, filed the petition to the High Court of Malaya in Kuala Lumpur (“High Court”) to obtain an order by the High Court confirming the reduction of the issued share capital of the Company in accordance with Section 116 of the Companies Act, 2016 to give effect to the Proposed SCR. 

This announcement is dated 28 February 2023.