Investor Relations

Unless otherwise stated, all abbreviations used herein shall have the same meaning as defined in the offer document in relation to the Offer dated 1 December 2023 ("Offer Document").

We refer to the Offer Document which sets out the details, terms and conditions of the Offer, and the press notice dated 20 December 2023 in relation to the extension of the closing time and date for acceptance of the Offer ("Press Notice").

Pursuant to the level of acceptance of the Offer set out in the Press Notice, the Offeror and PACs collectively hold 88.62% of the total issued shares of BPlant as at 20 December 2023, and the public shareholding spread of BPlant as at 20 December 2023 is 11.38% of the total issued shares of BPlant. Accordingly, BPlant does not comply with the Public Spread Requirement pursuant to subparagraph 8.02(1) of the Listing Requirements where a listed issuer must ensure that at least 25% of its total listed shares (excluding treasury shares) are in the hands of public shareholders.

As stated in Section 4 of the Offer Document, "the Offeror does not intend to maintain the listing status of BPlant. As such, the Offeror will not be taking any steps to address any shortfall in the public shareholding spread of BPlant in the event BPlant does not meet the Public Spread Requirement after the Closing Date.

In relation to a take-over offer for the acquisition of the listed shares of a listed issuer pursuant to the Rules, upon 90% or more of the listed shares (excluding treasury shares) of the said listed issuer being held by a shareholder either individually or jointly with associates of the shareholder, an immediate announcement must be made by the listed issuer pursuant to subparagraph 9.19(48) of the Listing Requirements. Upon such immediate announcement, Bursa Securities shall, in the case where the listed issuer does not intend to maintain the listing status, suspend the trading in the listed issuer's securities immediately upon the expiry of 5 market days from the close of the offer period, in accordance with subparagraph 16.02(3) of the Listing Requirements.

As the Offeror does not intend to maintain the listing status of BPlant, in the event that the Offeror receives valid acceptance resulting in 90% or more of BPlant Shares being held by the Offeror either individually or jointly with its associate(s), an immediate announcement will be made by BPlant. Upon such announcement, Bursa Securities shall suspend the trading of BPlant Shares immediately upon the expiry of 5 market days from the Closing Date. Thereafter, the Offeror will procure BPlant to take the requisite steps to withdraw its listing status from the Official List, in accordance with paragraph 16.07 of the Listing Requirements. Accordingly, if BPlant is delisted from the Official List as a consequence of 90% or more of BPlant Shares being held by the Offeror either individually or jointly with its associate(s), the BPlant Shares will no longer be traded on the Main Market of Bursa Securities.

In the event the Offeror receives valid acceptance resulting in the Offeror, either individually or jointly with its associate(s), holding less than 90% but more than 75% of BPlant Shares, the Offeror may request BPlant to make the necessary application to withdraw its listing status from the Official List pursuant to paragraph 16.06 of the Listing Requirements. Notwithstanding this, Bursa Securities may, at its discretion, impose additional conditions for the withdrawal of BPlant's listing status from the Official List."

This announcement is dated 20 December 2023.