We refer to the Company's announcements dated 21 November 2019, 3 January 2020, 28 February 2020, 13 May 2020, 1 June 2020, 30 June 2020 and 12 November 2020 in relation to its non-compliance of the public shareholding spread requirement pursuant to paragraph 8.02(1) of the MMLR of Bursa Securities.

Based on the latest available Record of Depositors as at 20 July 2020 (which shall be substantially the same as of today), the public shareholding spread of Y&G was 22.83%, which is below the minimum public shareholding spread requirement pursuant to paragraph 8.02(1) of the MMLR.

As announced by Y&G on 12 November 2020, the Company has applied to Bursa Securities for a further extension of time of six (6) months from 15 November 2020 to 14 May 2021 to comply with the public shareholding spread requirement and is awaiting for Bursa Securities' decision. 

The Company has still been unable to formulate any rectification plan to address the shortfall in the public shareholding spread requirement due to the current macroeconomic challenges caused by COVID-19 pandemic.

The Company will make an immediate announcement upon receipt of Bursa Securities' decision on the Company's above application and will also make the necessary announcements in relation to the status of its effort to comply with the public shareholding spread requirement thereafter.

This announcement is dated 30 November 2020.