Unless otherwise stated, the exchange rate of USD1.00: RM4.3695, being Bank Negara Malaysia’s middle rate as at 5.00 p.m. on 18 March 2020, is used throughout this announcement for purposes of translation of USD into RM.

The Board of Directors of GENM (“Board”) refers to the announcements dated 6 August 2019, 15 August 2019, 20 August 2019, 5 November 2019, 14 November 2019 and 18 November 2019 (“Announcements”) in respect of the Proposed Transactions. The definitions used throughout this announcement, unless stated otherwise, shall have the same meaning(s) as those used in the Announcements.

The Board wishes to announce that GENM had on 18 March 2020 (United States Eastern date/time) entered into a subscription agreement to subscribe for up to USD40.0 million (or RM174.8 million) of Series G Preferred Stock of Empire (“Equity Injection”). The proceeds from the Equity Injection will be utilised by Empire for the purposes of a refinancing plan and working capital.

For further details, please refer to the attachment.

This announcement is dated 19 March 2020.