On behalf of the Board of Directors of the Company (“Board”), Mercury Securities Sdn Bhd (“Mercury Securities” or the “Principal Adviser”) wishes to announce that the Company proposes to undertake the following:-

(i)         proposed share split involving the subdivision of every 1 existing ordinary share in Focus (“Focus Share” or “Share”) into 3 Shares (“Split Shares”) (“Proposed Share Split”);

(ii)         proposed renounceable rights issue of up to 2,044,266,157 new irredeemable convertible preference shares in the Company (“ICPS”) together with up to 3,066,399,235 free detachable warrants in the Company (“Warrants D”) on the basis of 2 ICPS together with 3 free Warrants D for every 6 Split Shares held by the entitled shareholders of the Company (“Shareholders”) (“Entitled Shareholders”) on an entitlement date to be determined (“Entitlement Date”) (“Proposed Rights Issue of ICPS with Warrants”); and

(iii)        proposed amendments to the constitution of the Company (“Constitution”) to facilitate the issuance of the ICPS pursuant to the Proposed Rights Issue of ICPS with Warrants (“Constitution”) (“Proposed Amendments”).

The Proposed Share Split, Proposed Rights Issue of ICPS with Warrants and Proposed Amendments shall collectively be referred to as the “Proposals”.

Please refer to the attachment for further details on the Proposals.

This announcement is dated 18 August 2020.