We wish to announce that PHARMA-CD had expired at 9.00 a.m. on 18 October 2021 ("Expiry Date") and the Cash Settlement Amount shall be calculated as set out below:

Cash Settlement Amount
= Number of PHARMA-CD exercised x (1/Exercise Ratio) x (Closing Price - Exercise Price) 
= Number of PHARMA-CD exercised x (1/2) x (RM0.8241 - RM1.1000) 
= Number of PHARMA-CD exercised x RM0.0000 

The Closing Price of RM0.8241 is the average daily volume weighted average price (VWAP) of the ordinary shares of PHARMA for the five (5) market days prior to and including the market day immediately before the Expiry Date. The PHARMA-CD is deemed to have been automatically exercised on the Expiry Date.

As the Cash Settlement Amount is less than Zero, warrantholders will not be entitled to receive any payment from us and all outstanding and unexercised PHARMA-CD will cease to be valid and all our obligations in respect to PHARMA-CD shall terminate absolutely.

This announcement is dated 18 October 2021.