Reference is made to the announcements made on 15 May 2020 and 3 July 2020.

The Board of Directors of ABB wishes to make the following Status Announcement on compliance with the required public shareholding spread in conjunction with the release of its quarterly results for the first quarter of the financial year ending 31 March 2020, pursuant to Section 3.3 of Practice Note 19 of the Main Market Listing Requirements (“Listing Requirements”):-

(i)      The Company as at 8 August 2020 has yet to meet the requirement as set out in paragraph 8.02(1) of the Listing Requirements which states that a listed issuer must ensure that at least 25% of its total listed shares (excluding treasury shares) are in the hands of public shareholders (“Public Spread Requirement”).

(ii)     Based on the Company’s Register of Depositors as at 18 August 2020, the public shareholding spread of the Company remain unchanged at 24.45%. This percentage represents a shortfall of 0.55% from the Public Spread Requirement.

(iii)    As announced by the Company on 3 July 2020, Bursa Securities had vide its letter dated 1 July 2020, granted the Company an extension of time of three (3) months until 8 August 2020 to comply with the Public Spread Requirement. 

The Board has deliberated but has yet to agree on how to rectify the shortfall in the Public Spread Requirement, and will be submitting an application to Bursa Securities to seek further extension of time to comply with the Public Spread Requirement.

Meanwhile, the Company will continue to monitor the level of the Public Spread Requirement and will make the necessary announcements in relation to the status of its effort to comply in due course.

This announcement is dated 27 August 2020.