The Board of Directors of UIB (“Board”) wishes to announce that the Board has deliberated and resolved to extend the timeframe for the utilisation of proceeds raised from the initial public offering (“IPO”) exercise as disclosed in the Company’s Prospectus dated 28 April 2022 that was issued in conjunction with the Company’s listing of and quotation for its entire share capital on the ACE Market of Bursa Malaysia Securities Berhad on 14 June 2022. The Company had raised gross proceeds of approximately RM100 million from its IPO.

Please refer to the attachment for further details.

This announcement is dated 26 May 2023.