Reference is made to the Company’s announcements dated 2 May 2019, 25 June 2019 and 29 November 2019 in relation to the Company’s application for an extension of time to comply with Paragraph 8.03(5) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad (“Announcements”). Unless otherwise defined, capitalised terms used in this announcement shall have the same meanings as defined in the aforesaid Announcements.

On behalf of the Board of Directors of PEB, Hong Leong Investment Bank Berhad wishes to announce that Bursa Securities has, via its letter dated 11 December 2019, decided to grant the Company an extension of time up to 29 May 2020 to submit a regularisation plan to the regulatory authorities.

The aforesaid extension of time is without prejudice to Bursa Securities’ right to proceed to suspend the trading of the listed securities of PEB and to de-list the Company in the event:

(i)  the Company fails to submit a regularisation plan to the regulatory authorities on or before 29 May 2020;

(ii)  the Company fails to obtain the approval from any of the regulatory authorities necessary for the implementation of its regularisation plan; or

(iii)  the Company fails to implement its regularisation plan within the time frame or extended time frame stipulated by any of the regulatory authorities.

Upon occurrence of any of the events set out in (i) to (iii) above, Bursa Securities may suspend the trading of the listed securities of PEB on the 6th market day after the date of notification of suspension by Bursa Securities and may de-list the Company, subject to the Company’s right to appeal against the delisting.

This announcement is dated 11 December 2019.