Further to the announcements dated 9 December 2019, 26 December 2019, 28 February 2020, 30 March 2020, 4 August 2020, 28 August 2020, 8 October 2020, 26 January 2021, 10 February 2021 and 19 February 2021, the Board of Directors of PLS Plantations Berhad (“Company”) wishes to announce that Bursa Malaysia Securities Berhad (“Bursa Securities”) had, vide its letter dated 19 March 2021 granted the Company a further extension of time of six (6) months until 28 August 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 Spread Requirement”).

Based on the Company’s Register of Depositors as at 10 March 2021, the public shareholding spread of the Company is 10.16%, representing a shortfall of 14.84% from the Public Spread Requirement.

The Company will continue to monitor the level of its public shareholding spread and work together with its substantial shareholders to explore several other measures and avenues to rectify the remaining shortfall in the Public Spread Requirement and had engaged in discussions with the advisers on the said rectification options.

The Company will make the necessary announcement in relation to the status of the Public Spread Requirement in accordance with the Listing Requirements.

This announcement is dated 22 March 2021.