(Unless otherwise defined, the definitions set out in the announcements dated 6 February 2018, 21 March 2018, 29 March 2018, 30 May 2018, 24 July 2018, 1 August 2018, 22 November 2018, 17 January 2019, 30 January 2019, 28 May 2019 and 8 July 2019 (“Announcements”) shall apply herein.)

We refer to the Company’s Announcements in relation to the non-compliance of the Required Public Spread pursuant to Paragraph 8.02(1) of the Listing Requirements and the Board of Directors of MCT wishes to announce that Bursa Securities had vide a letter dated 9 August 2019 granted the Company a further extension of time of six (6) months until 4 February 2020 to comply with the Required Public Spread.

As at 31 July 2019, the public shareholding spread of the Company was 24.59%. As such, the Company currently does not comply with the Required Public Spread.

To rectify the non-compliance with the Required Public Spread, the Company intends to continue pursuing the following action plans:

1.    Engaging with investment banks to identify potential public placees to increase public spread via a private placement;

2.    To conduct analyst and media briefings to increase awareness and interests in the Company;

3.    To update research houses with the Company’s current performance and future plans to expand research coverage on the Company; and

4.    Engage with the Company’s major shareholders on the possibility of selling down its shareholding to public shareholders.

The Company will continue to monitor the level of public shareholdings and make the necessary announcement in relation to the status of compliance with the Required Public Spread in accordance with the Listing Requirements.

This announcement is dated 9 August 2019.