We refer to the announcement dated 11 February 2019 (“Announcement”) and the circular to shareholders dated 16 August 2019 (“Circular”) in relation to the Rights Issue with Warrants. Unless otherwise defined, the definitions set out in the previous Announcement and Circular shall apply herein.

On behalf of the Board, AmInvestment Bank wishes to announce that, after taking into consideration, amongst other, the weaker market conditions attributable to the on-going Coronavirus Disease 2019 pandemic, the declining market price of E&O Shares as well as the establishment of a RM1.3 billion First Tranche Sukuk Murabahah Programme (by its subsidiary Tanjung Pinang Development Sdn Bhd) to fund its ongoing and future reclamation, infrastructure and development project, the Board has resolved to abort the Proposed Rights Issue with Warrants.

The Board shall continue to review the Group’s funding requirements and if required explore various forms of fund raising exercises, which may also involve equity fund raising in the future.

This announcement is dated 29 May 2020.