We refer to the announcements dated 30 June 2020 and 2 July 2020 in relation to the DRS (“Announcements”). Unless otherwise stated, the definitions used herein shall have the same meanings as set out in the Announcements.

The shareholders of UOA Development had, at the Company’s Sixteenth (16th) Annual General Meeting held on 29 June 2020 approved the Final Dividend and authorised the Company to allot and issue such number of new ordinary shares in UOA Development (“New Shares”) pursuant to the DRS.

On behalf of the Board, Kenanga IB is pleased to announce that the issue price for the New Shares to be issued pursuant to the DRS has been fixed on 9 July 2020 (“Price Fixing Date”) at RM1.48 per New Share (“Issue Price”).

The Issue Price was arrived at based on the five (5)-market day volume weighted average market price of the New Shares of RM1.7762, up to and including 8 July 2020, being the last trading day prior to the Price Fixing Date, adjusted for the Final Dividend and applying a discount of approximately 9.55%.

On behalf of the Board, Kenanga IB also wishes to announce that the book closure date for the Final Dividend and the DRS has been fixed on 23 July 2020.

Barring any unforeseen circumstances, the New Shares arising from the DRS will be listed on the Main Market of Bursa Securities on 24 August 2020.

This announcement is dated 9 July 2020.