We wish to announce that MFCB-C1 had expired at 9.00 a.m. on 3 April 2023 ("Expiry Date") and the Cash Settlement Amount shall be calculated as set out below:

Cash Settlement Amount
= Number of MFCB-C1 exercised x (1/Exercise Ratio) x (Closing Price - Exercise Price) 
= Number of MFCB-C1 exercised x (1/5) x (RM3.4633 - RM3.8800) 
= Number of MFCB-C1 exercised x RM0.0000 

The Closing Price of RM3.4633 is the average daily volume weighted average price (VWAP) of the ordinary shares of MFCB on Bursa Malaysia Securities Berhad for the five (5) market days prior to and including the market day immediately before the Expiry Date. The MFCB-C1 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 MFCB-C1 will cease to be valid and all our obligations in respect to MFCB-C1 shall terminate absolutely.

This announcement is dated 3 April 2023.