(We refer to the announcements dated 29 October 2019, 11 November 2019, 25 November 2019, 27 December 2019 and 30 January 2020 in relation to the Proposals (“Announcements”). Unless otherwise stated, all abbreviations used in this announcement shall have the same meanings as defined in the Announcements)

On behalf of the Board, Kenanga IB is pleased to announce that Bursa Securities had on 3 March 2020 approved the listing of:

(i) up to 187,500,000 new GNCB Shares to be issued arising from conversion of the CS pursuant to the Proposed CS Programme; and

(ii) such number of new GNCB ordinary shares representing up to 15% of the total number of issued shares of GNCB (excluding treasury shares, if any) to be issued pursuant to the exercise of ESOS Options under the Proposed ESOS.

The approval granted by Bursa Securities for the Proposed CS Programme is subject to the following conditions:

1. GNCB and Kenanga IB must fully comply with the relevant provisions under the Listing Requirements pertaining to the implementation of the Proposed Acquisition and Proposed Sukuk Programmes;

2. GNCB and Kenanga IB to inform Bursa Securities upon the completion of the Proposed Acquisition and Proposed Sukuk Programmes;

3. GNCB to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities’ approval once the Proposed Acquisition and Proposed Sukuk Programmes are completed;

4. GNCB to furnish Bursa Securities on a quarterly basis a summary of the total number of shares listed pursuant to the conversion of CS as at the end of each quarter together with a detailed computation of listing fees payable;

5. Compliance by GNCB with the public shareholding spread upon completion of the Proposed Acquisition. In this connection, Kenanga IB is to furnish a schedule containing the information set out in Appendix 8E, Chapter 8 of the Listing Requirements to Bursa Securities, upon completion of the Proposed Acquisition; and

6. GNCB to furnish Bursa Securities with a certified true copy of the resolution passed by the shareholders in general meeting approving the Proposed Acquisition and Proposed Sukuk Programmes.

The approval granted by Bursa Securities for the Proposed ESOS is subject to the following conditions:

1. Kenanga IB is required to submit a confirmation to Bursa Securities of full compliance of the Proposed ESOS pursuant to Rule 6.44 of the Listing Requirements and stating the effective date of implementation together with a certified true copy of the resolution passed by the shareholders in general meeting; and

2. GNCB is required to furnish Bursa Securities on a quarterly basis a summary of the total number of shares listed pursuant to the exercise of options, pursuant to the Proposed ESOS as at the end of each quarter together with a detailed computation of listing fees payable.

This announcement is dated 3 March 2020.