We refer to the announcements dated 20 October 2021, 28 October 2021, 19 November 2021, 20 December 2021, 4 January 2022 and 5 January 2022 in relation to the Proposals (“Announcements”). Unless otherwise defined, the definitions set out in the Announcements shall apply herein.

On behalf of the Board, TA Securities wishes to announce that the Company has resolved to fix the exercise price of the Warrants at RM0.45 per Warrant (“Exercise Price”). The Board has fixed the Exercise Price after taking into consideration, amongst others:

(i)   the Warrants will be issued at no cost to the Warrants Entitled Shareholders;

(ii)  the Warrants are exercisable at any time during the tenure of 3 years commencing on the date of issuance of the Warrants; and

(iii) The 5-day VWAP of the SKB Shares up to and including 19 January 2021, being the last trading day before the price-fixing date (“LTD”), with a discount ranging between 10% to 30% to the said 5-day VWAP.

The Exercise Price represents a discount of approximately 29.45% to the 5-day VWAP of the SKB Shares up to the LTD of RM0.6378.

In addition, the Board has on 20 January 2022 executed the deed poll constituting up to 66,000,000 Warrants at the Exercise Price of RM0.45 per Warrant to be issued pursuant to the Free Warrants Issue.

This announcement is dated 20 January 2022.