Following the announcement dated 24 July 2020 on the emergence of Awang Daud Bin Awang Putera as OVH new substantial shareholder and based on the Record of Depositors and Register of Substantial Shareholders of OVH as at 24 July 2020, the Board of the Company wishes to announce that the Company’s public shareholding spread of 23.85% is not in compliance with the public shareholding spread requirement pursuant to Rule 8.02(1) of the ACE Market Listing Requirements of Bursa Malaysia Securities Berhad (“Bursa Securities”) (“Listing Requirements”) whereby a listed issuer must ensure that at least 25% of its total listed shares (excluding treasury shares) are in the hands of public shareholders (“Required Public Spread”).

The percentage represents a shortfall of 1.15% from the Required Public Spread.

The Board of Directors of OVH wishes to announce that the Company will be taking the following steps to comply with the Required Public Spread (“Rectification Plan”) including the following:-

1. an application to the Bursa Securities for acceptance of a lower percentage of public shareholding spread pursuant to Rule 8.02(1) of the Listing Requirements; and/or
2. an application to the Bursa Securities for an extension of time to rectify the public shareholding spread.

As at the date of this announcement, the Company has yet to formulate any rectification plan to address the shortfall in the Required Public Spread. OVH will be applying to Bursa Securities to seek approval for lower level of public shareholding spread and/or an extension of time to address the shortfall in the public shareholding spread, vis-à-vis current prevailing market conditions.

The Company will make the required announcement on the status of compliance of the public shareholding spread requirement accordingly.

This announcement is dated 27 July 2020.