We wish to announce that UWC-CK had expired at 9.00 a.m. on 10 January 2022 ("Expiry Date") and the Cash Settlement Amount shall be calculated as set out below:

Cash Settlement Amount
= Number of UWC-CK exercised x (1/Exercise Ratio) x (Closing Price - Exercise Price) 
= Number of UWC-CK exercised x (1/10) x (RM6.0607 - RM6.4400) 
= Number of UWC-CK exercised x RM0.0000 

The Closing Price of RM6.0607 is the average daily volume weighted average price (VWAP) of the ordinary shares of UWC for the five (5) market days prior to and including the market day immediately before the Expiry Date. The UWC-CK 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 UWC-CK will cease to be valid and all our obligations in respect to UWC-CK shall terminate absolutely.

This announcement is dated 10 January 2022.