The terms used herein, unless the context otherwise stated, bear the same meaning as those defined in the earlier announcements in relation to the Proposals.

We refer to the earlier announcements dated 7 September 2021, 14 September 2021, 30 September 2021, 25 October 2021, 26 October 2021, 11 November 2021 and 12 November 2021 in relation to the Proposals.

On behalf of the Board, Inter-Pacific Securities Sdn Bhd wishes to announce that the Company has resolved to fix the exercise price of the Warrants at RM0.475 per Warrant (“Exercise Price”). The Board has fixed the Exercise Price after taking into consideration, amongst others:-

(i) the 5-day VWAP of the Shares up to and including 22 November 2021, being the last trading day before the
price-fixing date (“LTD”);
(ii) the historical price movement of SNC Shares; and
(iii) the Warrants are exercisable at any time for a tenure of 3 years for the date of the issuance of the Warrants at no cost.

The Exercise Price represents a discount of 19.90% to 5-day VWAP of the Shares up to the LTD of RM0.593.

In addition, the Board, on 22 November 2021 has executed the deed poll constituting up to 115,830,000 Warrants at the Exercise Price of RM0.475 per Warrant to be issued pursuant to the Bonus Issue of Warrants.

This announcement is dated 22 November 2021.