Reference is made to the Company’s announcements dated 8 July 2020, 27 May 2021, 7 January 2022, 13 January 2022, 14 January 2022, 3 February 2022, 1 March 2022, 1 April 2022, 5 May 2022, 1 June 2022, 1 July 2022, 1 August 2022, 1 September 2022, 3 October 2022, 1 November 2022, 4 November 2022, 29 November 2022, 1 December 2022, 21 December 2022, 3 January 2023, 2 February 2023, 27 February 2023, 1 March 2023, 4 April 2023, 2 May 2023, 1 June 2023, 15 June 2023, 30 June 2023, 3 July 2023, 27 July 2023, 1 August 2023, 1 September 2023, 2 October 2023, 5 October 2023, 1 November 2023, 1 December 2023, 22 December 2023, 2 January 2024, 19 January 2024, 2 February 2024, 1 March 2024, 1 April 2024, 2 May 2024, 4 June 2024, 28 June 2024, 2 July 2024, 9 July 2024, 1 August 2024, 19 August 2024, 2 September 2024, 1 October 2024, 23 October 2024, 1 November 2024, 2 December 2024, 23 December 2024, 2 January 2025, 3 February 2025, 3 March 2025, 7 March 2025, 27 March 2025, 2 April 2025 and 2 May 2025 (“Announcements”).

(Unless otherwise stated, the words and abbreviations used herein shall have the same meaning as those defined in the Announcements.)

The Board of Directors of the Company wishes to inform that the application in relation to the Proposed Regularisation Plan has been approved by the Bursa Securities on 7 March 2025.

The Company had on 15 April 2025 issued a circular to shareholders and notice to RCUIDS holders of the Company in relation to the Proposed Regularisation Plan. The extraordinary general meetings to seek approval from the Company’s shareholders and RCUIDS holders for the Proposed Regularisation Plan has been scheduled for 7 May 2025.

The Company had also on 2 May 2025 announced that the Company's external auditors, Messrs Ernst & Young PLT, had issued an unqualified audit opinion with a material uncertainty related to going concern paragraph (“MUGC Paragraph”) in respect of the Company’s audited consolidated financial statements for the financial year ended 31 December 2024 (“AFS 2024”). In view of this and as the Company’s audited shareholders’ equity on a consolidated basis was 50% or less of its share capital as at 31 December 2024, Capital A had on 30 April 2025 triggered the prescribed criteria pursuant to Paragraph 2.1(e) of PN17 of the Listing Requirements (“Prescribed Criteria 2.1(e)”) again.

The MUGC Paragraph in respect of the Company’s AFS 2024 relates to the ongoing implementation of the Proposed Disposals and Proposed Regularisation Plan of the Company. Barring any unforeseen circumstances, the concerns giving rise to the MUGC Paragraph are expected to be resolved upon the fulfilment of the remaining conditions precedent of the Proposed Disposals which are expected to be completed by the 2nd quarter of 2025.

The Proposed Regularisation Plan, if approved by the shareholders and RCUID holders, is expected to regularise Capital A’s financial condition such that the Company no longer triggers any of the prescribed criteria pursuant to PN17 of the Listing Requirements, including the Prescribed Criteria 2.1(e).

The Company will make further announcement(s) regarding the development of the Proposed Regularisation Plan as and when necessary.

This announcement is dated 2 May 2025.