(Unless otherwise defined, the definitions set out in the announcements dated 6 February 2018, 21 March 2018, 29 March 2018, 30 May 2018, 24 July 2018, 1 August 2018, 22 November 2018, 17 January 2019, 30 January 2019, 28 May 2019, 8 July 2019, 9 August 2019, 21 November 2019 and 21 January 2020 (“Announcements”) shall apply herein.)

We refer to the Company’s Announcements in relation to the non-compliance of the Required Public Spread pursuant to Paragraph 8.02(1) of the Listing Requirements. The Board of Directors of MCT wishes to announce that the Company received today the approval letter dated 24 February 2020 from the Bursa Securities granting the Company further extension of time of  six (6) months until 4 August 2020 to comply with the Required Public Spread.

As at 31 December 2019, the public shareholding spread of the Company was 24.59%. As such, the Company currently does not comply with the Required Public Spread.

To rectify the non-compliance with the Required Public Spread, the Company is exploring various options including:

1. Discussing with the Company’s major shareholders on the possibility of selling-down its shareholding to public shareholders;

2. Engaging with investment banks to identify potential public investors to increase public spread via a private placement; and

3. Intensifying communication with potential investors, analysts, research houses and shareholders to instil investor confidence and create better awareness and understanding of the Company’s business to increase take up of shares while retaining public shareholders in the Company.

The Company will continue to monitor the level of public shareholdings and make the necessary announcement in relation to the status of compliance with the Required Public Spread in accordance with the Listing Requirements.

This announcement is dated 25 February 2020.