Unless otherwise stated, definitions used herein shall have the same meaning as those defined in VCB’s Circular to Shareholders dated 31 January 2020, VCB’s Abridged Prospectus dated 19 March 2020 and announcements dated 3 April 2020, 13 April 2020, 20 April 2020 and 27 April 2020 respectively in relation to the Rights Issue of Shares

The Company had on 28 April 2020 announced the completion of Rights Issue of Shares following the listing of and quotation for 112,655,537 Rights Shares on the Main Market of Bursa Malaysia Securities Berhad on 28 April 2020, raising total proceeds of RM25.91 million.

The Board of Directors of VCB (“Board”) wishes to announce that it had on 20 July 2020 resolved to extend the time frame for the Company to utilise the balance of the proceeds, which was allocated for the repayment of trade facilities, for another four (4) months until 28 November 2020 (“Revised Time Frame”).

Details of the Revised Time Frame is as attached..

This announcement is dated 21 July 2020.