(Unless otherwise stated, all abbreviations and definitions used herein shall have the same meaning as those defined in the earlier announcements in relation to the Rights Issue with Warrants-C)

On behalf of the Board, M&A Securities wishes to announce that the Board had resolved to fix the exercise price of the Warrants-C at RM0.10 per Warrant-C (“Exercise Price”).

The exercise price of the Warrants-C was determined by the Board after taking into consideration, amongst others, the following:

(i)        the 5D-VWAMP of BTM Shares up to and including 23 November 2022 of RM0.1173; and

(ii)        the theoretical ex-all price of BTM Shares of RM0.0886, calculated based on the 5D-VWAMP of BTM Shares in (i).

The Exercise Price represents a discount of 14.7% to the 5D-VWAMP of BTM Shares up to and including 23 November 2022 of RM0.1173.

Premised on the above, the Board is of the view that the Exercise Price is fair.

This announcement is dated 24 November 2022.