On behalf of the Board of Directors of PLS (“Board”), Maybank Investment Bank Berhad (“Maybank IB”) and Astramina Advisory Sdn Bhd (“Astramina Advisory”) wish to announce that the Company proposes to undertake a placement of up to 56,237,000 new PLS Shares (“Placement Shares”), representing 10% of the total number of issued PLS Shares in the following manner:

1. proposed placement of 10,000,000 new PLS Shares, representing 1.78% of the total number of issued PLS Shares (under the Maximum Scenario), to Tan Sri Dato’ Sri (Dr.) Mohamad Norza Bin Zakaria (“TS Norza”) at an issue price of RM0.95 per PLS Share pursuant to a conditional subscription agreement entered into between the Company and TS Norza on 25 January 2023;
2. proposed placement of 5,000,000 new PLS Shares, representing 0.89% of the total number of issued PLS Shares (under the Maximum Scenario), to Tan Sri Shahril Ridza Bin Ridzuan (“TS Shahril”) at an issue price of RM0.95 per PLS Share pursuant to a conditional subscription agreement entered into between the Company and TS Shahril on 25 January 2023;
3. proposed placement of 5,000,000 new PLS Shares, representing 0.89% of the total number of issued PLS Shares (under the Maximum Scenario), to Mirus Holdings Sdn Bhd (“Mirus”) at an issue price of RM0.95 per PLS Share pursuant to a conditional subscription agreement entered into between the Company and Mirus on 25 January 2023;
4. proposed placement of 3,000,000 new PLS Shares, representing 0.53% of the total number of issued PLS Shares (under the Maximum Scenario), to Dato’ Eric Tan Chwee Kuang (“Dato’ Eric Tan”) at an issue price of RM0.95 per PLS Share pursuant to a conditional subscription agreement entered into between the Company and Dato’ Eric Tan on 25 January 2023;
5. proposed placement of 2,000,000 new PLS Shares, representing 0.36% of the total number of issued PLS Shares (under the Maximum Scenario), to Thien Chiet Chai (“TCC”) at an issue price of RM0.95 per PLS Share pursuant to a conditional subscription agreement entered into between the Company and TCC on 25 January 2023; and
6. proposed placement of up to 31,237,000, representing 5.55% of the total number of issued PLS Shares (under the Maximum Scenario), to third party investor(s) to be identified (“Proposed Placement to 3rd Parties”),

(collectively referred to as “Proposed Placement”).

Please refer to the attachment for further details on the Proposed Placement.

This announcement is dated 25 January 2023.