This announcement is dated 22 September 2020. 

We refer to the Company’s announcements dated 5 August 2020 and 17 September 2020 in relation to the conditional mandatory take-over offer from AmInvestment Bank Berhad on behalf of Dato’ Lee Foo San to acquire all the remaining Watta shares not already owned by him and persons acting in concert with him (“Offer”) and the announcement dated 2 September 2020 in relation to the Company’s public shareholding spread (collectively, the “Earlier Announcements”). Unless otherwise stated, the abbreviations and definitions used throughout this announcement shall have the same meanings as those previously defined in the Earlier Announcements.

Pursuant to Paragraph 8.02(5) of the Listing Requirements of Bursa Securities, the Company wishes to announce that based on the Record of Depositors as at 21 September 2020 (being the Record of Depositors reflecting the shareholdings post-closing of the Offer), the public shareholding spread of the Company is 23.70%.  

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 make the requisite announcements in due course in relation to the status of its efforts to comply with the Public Spread Requirement in compliance with the Listing Requirements of Bursa Securities.