Reference is made to our earlier announcements dated 25 August 2016, 20 September 2016 and 24 September 2020 on the Joint Venture Agreement entered into between Paramount Corporation Berhad (Paramount), Lasseters Properties Sdn Bhd (LPSB) and Lasseters Management (M) Sdn Bhd (LMSB) for the joint equity participation in Super Ace Resources Sdn Bhd (SAR).

The Board of Directors of Paramount wishes to announce that SAR has on even date increased its issued share capital to RM25,831,000.00 represented by 1,897,000 ordinary shares and 23,934,000 redeemable non-cumulative non-convertible preference shares based on the following shareholding proportion:

This announcement is dated 24 September 2020.