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The terms used herein, unless the context otherwise states, shall bear the same meaning as those defined in the Company’s announcement dated 25 May 2017 in relation to the Private Placement.

We refer to the announcement made by the Company on 25 May 2017, the announcement of the signing of the Subscription Agreement dated 17 July 2017 and the announcement of the signing of the Supplemental Agreement dated 30 October 2017.

On behalf of the Board, RHB Investment Bank wishes to announce that the Company had on 25 January 2018 received the 15th and final Subscription Notice from Macquarie Bank for the subscription of 4,800,000 Masteel Shares at a subscription price of RM1.502. The said subscription price represents a discount of approximately 9.02% to the VWAPs of Masteel Shares for the 5 consecutive Trading Days up to and including 24 January 2018 of RM1.6509.

Accordingly, the Company will issue and allot 4,800,000 Masteel Shares to Macquarie on 26 January 2018. Such shares will be listed and quoted on the Main Market of Bursa Securities on 30 January 2018.


This announcement is dated 25 January 2018.


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