Abbreviations used herein shall be the same as those defined in the earlier announcements in relation to the Bonus Issue of Warrants.

On behalf of the Board, M&A Securities is pleased to announce that the Board has resolved to fix the exercise price for the Warrants at RM0.12 per Warrant (“Exercise Price”).

The Exercise Price was determined by the Board after taking into consideration, amongst others, the following:

(i)        the historical share price movement of SAG Shares and prevailing market conditions;

(ii)        the 5D-VWAMP of SAG Shares up to and including 18 March 2022 of RM0.0792 per Share, being the market day immediately preceding the date of this announcement; and

(iii)       the future funding requirements of the Group.

The Exercise Price represents a premium of approximately 51.5% to the 5D-VWAMP of SAG Shares up to and including 18 March 2022 of RM0.0792 per Share.

The Board is of the view that the Exercise Price is fair.

This announcement is dated 21 March 2022.