We wish to announce that ECOWLD-CZ had expired at 9.00 a.m. on 30 November 2020 ("Expiry Date") and the Cash Settlement Amount shall be calculated as set out below:

Cash Settlement Amount
= Number of ECOWLD-CZ exercised x (1/Exercise Ratio) x (Closing Price Exercise Price) 
= Number of ECOWLD-CZ exercised x (1/2) x (RM0.3988 - RM0.7800) 
= Number of ECOWLD-CZ exercised x RM0.0000 

The Closing Price of RM0.3988 is the average daily volume weighted average price (VWAP) of the ordinary shares of ECOWLD for the five (5) market days prior to and including the market day immediately before the Expiry Date. The ECOWLD-CZ 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 ECOWLD-CZ will cease to be valid and all our obligations in respect to ECOWLD-CZ shall terminate absolutely.

This announcement is dated 30 November 2020.