We wish to announce that GENM-C2K had expired at 9.00 a.m. on 12 August 2024 ("Expiry Date") and the Cash Settlement Amount shall be calculated as set out below:

Cash Settlement Amount
= Number of GENM-C2K exercised x (1/Exercise Ratio) x (Closing Price - Exercise Price) 
= Number of GENM-C2K exercised x (1/2) x (RM2.4621 - RM2.8800) 
= Number of GENM-C2K exercised x RM0.0000 

The Closing Price of RM2.4621 is the average daily volume weighted average price (VWAP) of the ordinary shares of GENM on Bursa Malaysia Securities Berhad for the five (5) market days prior to and including the market day immediately before the Expiry Date. The GENM-C2K 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 GENM-C2K will cease to be valid and all our obligations in respect to GENM-C2K shall terminate absolutely.

This announcement is dated 12 August 2024.