We refer to the announcements made by Texchem Resources Bhd. (“TRB” or “Company”) on 6 May 2014, 12 May 2015, 29 April 2016, 15 May 2017, 9 November 2017, 27 April 2018, 8 November 2018, 10 May 2019, 4 November 2019, 8 May 2020 and 30 October 2020 in relation to the above matter.

The Board of Directors of TRB wishes to announce as follows:

1.    As at 15 March 2021, Texchem Corporation Sdn. Bhd. (“Texcorp”), a 73.94% owned subsidiary of the Company held 1,214,300 ordinary shares in the Company, representing 1.007% of the total issued and paid-up share capital of the Company (excluding 3,528,400 treasury shares).

2.    Pursuant to Section 22(5)(b) of the Companies Act 2016 (“Act”), Texcorp is required to dispose of all its shareholding in TRB within twelve (12) months or such longer period as the Companies Commission of Malaysia may allow, namely the deadline for Texcorp to dispose of all TRB shares held by Texcorp is 15 November 2021.

3.    Texcorp has on 16 March 2021 disposed of its remaining 1,214,300 ordinary shares in the Company via open market. Accordinlgy, Texcorp has ceased to be a shareholder of TRB and is now in compliance with the requirement of Section 22(5)(b) of the Act.

This announcement is dated 17 March 2021.