We refer to the announcements dated 12 November 2024 and 19 November 2024 in relation to the Proposals (“Announcements”). Unless otherwise defined, the definitions set out in the Announcements shall apply herein.

On behalf of the Board, Affin Hwang Investment Bank Berhad wishes to announce that pursuant to the Proposals, the Company had submitted an application to Bursa Securities on 25 November 2024 to seek exemption from having to comply with the following requirements:

1. to extend a reasonable cash alternative or other reasonable alternative (“Exit Offer”) to DSR Taiko’s minority shareholders (“Minority Shareholders”) pursuant to Rule 8.06(1)(c) of the LEAP Market Listing Requirements (“LEAP LR”); and
2. to appoint an independent adviser to advise and make recommendations for the consideration of the Minority Shareholders in connection with the withdrawal of its listing as well as the fairness and reasonableness of the Exit Offer (“IA Appointment”) pursuant to Rule 8.06(1)(d) of the LEAP LR.

All the Minority Shareholders have provided their irrevocable written undertakings to the Company to undertake the following:

1. Minority Shareholders shall continue to hold and not dispose of, transfer or reduce their respective shareholdings in the Company before and until the completion or abortion of the Proposed Withdrawal;
2. Minority Shareholders shall waive all their rights in respect of the Exit Offer and the IA Appointment; and
3. Minority Shareholders will vote in favour of the resolution for the Proposed Transfer.

This announcement is dated 26 November 2024.