Reference is made to the earlier announcements made in relation to the rights issue of 1,232,492,289 rights shares and 821,661,526 warrants (Rights Issue with Warrants 2020).

The Company had on 13 July 2020 announced to Bursa Malaysia Securities Berhad on the completion of the Rights Issue with Warrants 2020 that the Company raised total proceeds of RM36,974,769.

The Board of Directors (Board) of Vsolar wishes to announce that as at 31 December 2024, Vsolar has utilised RM850,000 from the total proceeds raised from the Rights Issue with Warrants 2020. On 10 March 2025, the Board has approved to vary the utilisation of the proceeds raised from the Rights Issue with Warrants 2020.

Please refer to the attachment for further details. 

This announcement is dated 10 March 2025.