The conversion price of the ICPS, cash payment for conversion of the ICPS and number of outstanding ICPS (which are not converted into new Shares prior to the Entitlement Date) shall be adjusted pursuant to the Share Consolidation and in accordance with the provisions of the Company's Constitution ("Adjustments").

The outstanding ICPS will be consolidated on the basis of every 15 ICPS held by the entitled holders of ICPS of the Company (whose names appear in the Record of Depositors of the Company at 5.00 p.m. on the Entitlement Date) ("Entitled ICPS Holders") into 1 ICPS ("Consolidated ICPS"). Fractional entitlements for the Consolidated ICPS 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 ICPS of 3,814,226,509 ICPS will be adjusted into a maximum number of 254,281,767 Consolidated ICPS. The actual number of Consolidated ICPS would depend on the number of outstanding ICPS which are not converted into new Shares prior to the Entitlement Date. 

Further, pursuant to the Adjustments, the conversion price of ICPS and cash payment for conversion of ICPS will be adjusted to as follows:

(a)	existing conversion price of ICPS of RM0.13 each will be revised to RM1.95 each; and
(b)	existing cash payment for conversion of ICPS (based on the conversion mode of surrendering 1 ICPS with additional cash payment for 1 new Share) of RM0.12 each will be revised to RM1.80 each.

The Consolidated ICPS will be listed and quoted on the Main Market of Bursa Malaysia Securities Berhad on 13 April 2022 ("Listing Date"), being the next market day following the Entitlement Date.

The notice of allotment of the Consolidated ICPS will be issued and despatched to the Entitled ICPS Holders at the addresses set out in the Record of Depositors of the Company as at the Entitlement Date within 4 market days after the Listing Date. The notice setting out the details of the Adjustments will be issued and despatched to the Entitled ICPS Holders in due course. 

The Share Consolidation will result in a reduction in the number of ICPS available in the market and the trading price of ICPS will be adjusted accordingly in proportion to the basis of the Share Consolidation. 

Holders of ICPS who wish to be entitled to the Share Consolidation as the Company's shareholders shall exercise their rights to subscribe for new Shares by lodging their duly completed conversion forms together with the relevant subscription monies with the Share Registrar of AGESON (at the address stated above) on or before 5.00 p.m. on Thursday, 31 March 2022 such that their names will appear in the Record of Depositors of the Company at 5.00 p.m. on the Entitlement Date. 

This announcement is dated 29 March 2022.