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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 and the announcement of the signing of the Subscription Agreement dated 17 July 2017.

On behalf of the Board, RHB Investment Bank wishes to announce that the Company had on 21 August 2017 received the 8th Subscription Notice from Macquarie Bank for the subscription of 700,000 Masteel Shares at a subscription price of RM0.995. The said subscription price represents a discount of approximately 9.00% to the VWAPs of Masteel Shares for the 5 consecutive Trading Days up to and including 18 August 2017 of RM1.0934.

Accordingly, the Company will issue and allot 700,000 Masteel Shares to Macquarie on 22 August 2017. Such shares will be listed and quoted on the Main Market of Bursa Securities on 24 August 2017.


This announcement is dated 21 August 2017.


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