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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 announcements made by the Company on 25 May 2017, 26 May 2017, 31 May 2017, 9 June 2017, 17 July 2017 and 24 July 2017 in relation to the Private Placement.

On behalf of the Board, RHB Investment Bank wishes to announce that the Company had on 27 July 2017 received a Subscription Notice from Macquarie Bank for the subscription of 300,000 Masteel Shares at a subscription price of RM0.933. This subscription price represents a discount of approximately 8.98% to the average of the daily VWAPs of Masteel Shares during the 5 consecutive Trading Days up to and including 26 July 2017 of RM1.0251.

Accordingly, the Company will issue and allot 300,000 Masteel Shares to Macquarie on 28 July 2017. Such shares will be listed and quoted on the Main Market of Bursa Securities on 1 August 2017.


This announcement is dated 27 July 2017.


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