In conjunction with Binasat’s initial public offering and listing on the ACE Market of Bursa Malaysia Securities Berhad on 8 January 2018, the Company raised a total of RM39.6 million from the public issue of 85,979,000 new ordinary shares in the capital of the Company (“Public Issue”).

As at 18 May 2020, a total of RM29.9 million of the proceeds raised from the Public Issue has been utilised. Arising from this, the Board of Directors of the Company wishes to announce that the Company intends to vary the utilisation of proceeds raised from the Public Issue (“Variation”).

Please refer to the attachment for further details of the Variation.

This announcement is dated 15 June 2020.