We wish to announce that SERBADK-CB had expired at 9.00 a.m. on 26 February 2018 ("Expiry Date") and the Cash Settlement Amount shall be calculated as set out below:

Cash Settlement Amount

= Number of SERBADK-CB exercised x (1/Exercise Ratio) x (Closing Price – Exercise Price) – 0.30%*

= Number of SERBADK-CB exercised x (1/2.5) x (RM3.4722 - RM2.5000) – 0.30%*  

= Number of SERBADK-CB exercised x RM0.3889 – 0.30%*

*The Exercise Expenses are subject to 6% GST.

The Closing Price of RM3.4722 is the average daily volume weighted average price (VWAP) of the ordinary shares of SERBADK for the five (5) market days prior to and including the market day immediately before the Expiry Date. The SERBADK-CB is deemed to have been automatically exercised on the Expiry Date.

The Cash Settlement Amount will be delivered to the warrantholders by ordinary post within seven (7) market days from the Expiry Date.

This announcement is dated 26 February​ 2018.