Further to the announcement on 9 December 2019, 26 December 2019 and 28 February 2020, the Board of Directors of PLS Plantations Berhad (“Company”) wishes to announce that Bursa Malaysia Securities Berhad (“Bursa Securities”) had, vide its letter dated 30 March 2020 granted the Company a further extension of time of six (6) months until 29 August 2020 to comply with the public shareholding spread requirement pursuant to Paragraph 8.02(1) of the Main Market Listing Requirements of Bursa Securities (“Listing Requirements”).

The Company currently does not meet the requirement as set out in paragraph 8.02(1) of the Listing Requirements which states that a listed issuer must ensure that at least 25% of its total listed shares (excluding treasury shares) are in the hands of public shareholders (“Public Shareholding Spread Requirement”).

Based on the Company’s Register of Depositors as at 6 February 2020, the public shareholding spread of the Company is 23.32%, representing a shortfall of 1.68% from the Public Shareholding Spread Requirement.

The Company is in the midst of formulating a rectification plan to address the non-compliance in the Public Shareholding Spread Requirement within the extended period.

The Company will continue to monitor the level of the Public Shareholding Spread Requirement and will make the necessary announcement in relation to the status of the Public Shareholding Spread Requirement in accordance with the Listing Requirements.

This announcement is dated 30 March 2020.