Unless stated otherwise, definitions used in this announcement shall carry the same meaning as defined in the Company’s announcement dated 28 February 2012 in relation to the Proposed Settlement.

With reference to the Company’s announcement dated 1 October 2018 in relation to the extension of time to the Extended Conditional Period to facilitate the fulfilment of the Conditions Precedent of the Proposed Settlement, on behalf of the Board of Directors of the Company, we wish to announce that PCB and PESB have mutually agreed to terminate the Agreements as the Conditions Precedent have not been fulfilled after the Extended Conditional Period which expired on 31 March 2019.

With further reference to the Company’s announcement dated 28 February 2019, as at to-date, following the debt set off between PCB and Perbadanan Kemajuan Negeri Perak, PESB does not have any debt owing to the Company.

This announcement is dated 1 April 2019.