(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 Bonus Issue of Warrants)

On behalf of the Board, M&A Securities wishes to announce that the Board had resolved to fix the exercise price for the Warrants at RM1.80 per Warrant (“Exercise Price”).

The Exercise Price was determined by the Board after taking into consideration the following:

(i)        the historical price movement of EGIB Shares;

(ii)        the 5D-VWAMP of EGIB Shares up to and including 5 December 2023 of RM1.4777;

(iii)       the prevailing market conditions; and

(iv)       the future prospects and potential funding requirements of EGIB Group.

The Exercise Price represents a premium of 21.81% and 13.56% to the 5D-VWAMP of EGIB Shares up to and including 5 December 2023 of RM1.4777 and the theoretical ex-all price of EGIB Shares of RM1.5851, respectively.

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

This announcement is dated 5 December 2023.