On 18 January 2018, the Company completed a regularisation plan and pursuant to a letter from the Securities Commission Malaysia (“SC”) dated 1 November 2016, the Company is to ensure that at least 12.5% of its enlarged number of issued shares is allocated to or held by Bumiputera investors recognised by the Ministry of International Trade and Industry (“MITI”) within 1 year after registering a profit or 3 years after the implementation of the regularisation plan, whichever is earlier.

The Company wishes to update the following:

(i) MITI had agreed to recognise 9.40% of the existing number of issued shares of the Company held by Bumiputera investors; and

(ii) the SC had, vide its letter dated 9 December 2021, approved the Company’s application for an extension of time up to 11 August 2022 to comply with the 12.5% Bumiputera equity condition (“Bumiputera Equity Condition”), subject to Parlo submitting to the SC a proposal to comply with the Bumiputera Equity Condition within 3 months from the date of the SC’s letter.

The Company is in the midst of exploring a proposal to comply with the Bumiputera Equity Condition and will make the necessary announcement in due course.

This announcement is dated 10 December 2021.