We wish to announce that MICROLN-CB had expired at 9.00 a.m. on 15 July 2024 ("Expiry Date") and the Cash Settlement Amount shall be calculated as set out below:

Cash Settlement Amount
= Number of MICROLN-CB exercised x (1/Exercise Ratio) x (Closing Price - Exercise Price) 
= Number of MICROLN-CB exercised x (1/1.5) x (RM0.2758 - RM1.0800) 
= Number of MICROLN-CB exercised x RM0.0000 

The Closing Price of RM0.2758 is the average daily volume weighted average price (VWAP) of the ordinary shares of MICROLN on Bursa Malaysia Securities Berhad for the five (5) market days prior to and including the market day immediately before the Expiry Date. The MICROLN-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 MICROLN-CB will cease to be valid and all our obligations in respect to MICROLN-CB shall terminate absolutely.

This announcement is dated 15 July 2024.