We wish to announce that PWROOT-CB had expired at 9.00 a.m. on 26 February 2024 ("Expiry Date") and the Cash Settlement Amount shall be calculated as set out below:

Cash Settlement Amount
= Number of PWROOT-CB exercised x (1/Exercise Ratio) x (Closing Price - Exercise Price) 
= Number of PWROOT-CB exercised x (1/4) x (RM1.7280 - RM2.2000) 
= Number of PWROOT-CB exercised x RM0.0000 

The Closing Price of RM1.7280 is the average daily volume weighted average price (VWAP) of the ordinary shares of PWROOT on Bursa Malaysia Securities Berhad for the five (5) market days prior to and including the market day immediately before the Expiry Date. The PWROOT-CB 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 PWROOT-CB will cease to be valid and all our obligations in respect to PWROOT-CB shall terminate absolutely.

This announcement is dated 26 February 2024.