Pursuant to the Share Consolidation, the exercise price and the number of outstanding Warrants B which are not exercised prior to the entitlement date will be adjusted in accordance with the provisions of the deed poll constituting the Warrants B ("Adjustments").

The outstanding Warrants B will be consolidated on the basis of every 30 Warrants B held by the entitled Warrant B holders (whose names appear in the Record of Depositors at 5.00 p.m. on the entitlement date) ("Entitled Warrant B Holders") into 1 Warrant B.

Holders of Warrants B who wish to be entitled to the Share Consolidation as the Company's shareholders shall exercise their rights to subscribe for new Vsolar Shares by lodging their duly completed exercise forms together with the relevant subscription monies with the Share Registrar of Vsolar on or before 5.00 p.m. on 15 May 2023 such that their names will appear on the Record of Depositors of the Company at 5.00 p.m. on the entitlement date.

Fractional entitlements arising from the Adjustments, if any, shall be disregarded and dealt with by the Board of Directors of the Company in such manner at its absolute discretion as it may deem fit or expedient and in the best interest of the Company.

Pursuant to the Adjustments, the existing number of 821,461,526 Warrants B will be adjusted into a maximum number of 27,382,050 consolidated Warrants B to be issued and allotted to the Entitled Warrant B Holders. The actual number of consolidated Warrants B to be issued and allotted would depend on the number of outstanding Warrants B which have yet to be exercised into new Vsolar Shares as at the entitlement date.

Further, the existing exercise price of Warrants B of RM0.03 each will be revised to RM0.90 each pursuant to the Adjustments.

The consolidated Warrants B will be listed and quoted on the ACE Market of Bursa Malaysia Securities Berhad ("Bursa Securities") on 24 May 2023, being the next market day following the entitlement date for the Share Consolidation.

The notices of allotment for the consolidated Warrants B will be despatched to the Entitled Warrant B Holders not later than 4 market days after the date of listing and quotation of the consolidated Warrants B on Bursa Securities. The notice to the Entitled Warrant B Holders (setting out the details of the Adjustments) will be despatched to the Entitled Warrant B Holders in due course.

The Adjustments will result in a reduction in the number of Warrants B available in the market and the trading price of the Warrants B will be adjusted accordingly in proportion to the basis of the Adjustments. The Entitled Warrant B Holders are strongly advised to trade cautiously to prevent overselling of their position in respect of the Warrants B held.


This announcement is dated 9 May 2023.