We wish to announce that EKOVEST-C39 had expired at 9.00 a.m. on 13 May 2024 ("Expiry Date") and the Cash Settlement Amount shall be calculated as set out below:

Cash Settlement Amount
= Number of EKOVEST-C39 exercised x (1/Exercise Ratio) x (Closing Price - Exercise Price) 
= Number of EKOVEST-C39 exercised x (1/1) x (RM0.4601 - RM0.5000) 
= Number of EKOVEST-C39 exercised x RM0.0000 

The Closing Price of RM0.4601 is the average daily volume weighted average price (VWAP) of the ordinary shares of EKOVEST on Bursa Malaysia Securities Berhad for the five (5) market days prior to and including the market day immediately before the Expiry Date. The EKOVEST-C39 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 EKOVEST-C39 will cease to be valid and all our obligations in respect to EKOVEST-C39 shall terminate absolutely.

This announcement is dated 13 May 2024.