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, 12 November 2020, 30 November 2020, 17 December 2020, 30 March 2021 and 12 May 2021 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 Record of Depositors as at 18 May 2021, 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 May 2021, Y&G had applied to Bursa Securities for a further extension of time of six (6) months from 15 May 2021 to 14 November 2021 to comply with the public shareholding spread requirement and is waiting for Bursa Securities' decision

As at the date of this announcement, due to the current macroeconomic challenges caused by COVID-19 pandemic including the recent Malaysian Government’s announcement on Movement Control Order 3.0 on 10 May 2021 and subsequent announcement on ‘total lockdown’ on 28 May 2021, the Company has still been unable to formulate an effective rectification plan to address fully the shortfall in the public shareholding spread requirement.

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 31 May 2021.