Reference is made to the proceeds raised from the public issue disclosed in the Company’s Prospectus dated 5 October 2020 issued in conjunction with the Company’s Initial Public Offering (“IPO”) on the ACE Market of Bursa Malaysia Securities Berhad on 27 October 2020 (“Listing”). The Company raised total gross proceeds of RM18.2 million from the IPO.

The Board of Directors of Econframe (“Board”) wishes to announce that it has deliberated and resolved to extend the timeframe for the utilisation of unutilised proceeds allocated for working capital from within six (6) months to within eighteen (18) months, from the date of Listing (“Extension of Time”).

Please refer to the attachment for further details.

This announcement is dated 13 April 2021.