We refer to the announcement dated 5 August 2020 in relation to the Offer. Unless otherwise stated, the abbreviations and definitions used throughout this announcement shall have the same meanings as those previously defined in the announcement dated 5 August 2020.

The Company wishes to announce that based on the Record of Depositors as at 21 August 2020, the public shareholding spread of the Company is 23.70%. Accordingly, Watta does not comply with the public shareholding spread requirement pursuant to Paragraph 8.02(1) of the Listing Requirements of Bursa Securities which stipulates 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.

As stated in the Offer Document dated 26 August 2020, the Offeror intends to maintain the listing status of Watta on the Main Market of Bursa Securities. 

As of the date of this announcement, the Company has yet to formulate any rectification plan to address the shortfall in the public shareholding spread requirement.

The Company will closely monitor the level of the public shareholding spread and will make the necessary announcement in relation to the status of public shareholding spread in accordance with the Listing Requirements of Bursa Securities.

This announcement is dated 2 September 2020.