Further to the announcement on 9 December 2019, 26 December 2019, 28 February 2020, 30 March 2020, 4 August 2020 and 28 August 2020, the Board of Directors of PLS Plantations Berhad (“Company”) wishes to announce that Bursa Malaysia Securities Berhad (“Bursa Securities”) had, vide its letter dated 7 October 2020 granted the Company a further extension of time of six (6) months until 28 February 2021 to comply with the public shareholding spread requirement pursuant to Paragraph 8.02(1) of the Main Market Listing Requirements of Bursa Securities (“Listing Requirements”).

The Company currently does not 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 Shareholding Spread Requirement”).

Based on the Company’s Register of Depositors as at 14 September 2020, the public shareholding spread of the Company is 22.49%, representing a shortfall of 2.51% from the Public Shareholding Spread Requirement.

The Company will continue to monitor the level of its public shareholding spread and work together with its substantial shareholders on its rectification plan based on the extended timeline granted by Bursa Securities. The Company will make the necessary announcement in relation to the status of the Public Shareholding Spread Requirement in accordance with the Listing Requirements.

This announcement is dated 8 October 2020.