The Board of Directors of PGF wishes to announce that as at the date of this announcement, PGF and its subsidiaries (“PGF Group” or “Group”) have yet to utilise approximately RM2.288 million of the Rights Issue Proceeds which was earmarked for expansion of business (“Unutilised Proceeds”). The Group requires additional time to complete the expansion plan mainly due to the delay in obtaining the authorities’ approval for the re-zoning and land use application of its ecotourism project in Tanjong Malim, Perak. The Group had on 7 February 2024 obtained the re-zoning approval from the relevant authorities and fulfilled the “Syarat Teknikal” required in the said approval on 6 March 2024.

The Board of Directors of PGF has deliberated and resolved to extend the timeframe for the Unutilised Proceeds for an additional twelve (12) months up to 8 March 2025 ("Extension")

Please refer to the attachment for further details on the Extension.

This announcement is dated 7th day of March 2024.