Unless otherwise defined, capitalised terms used in this announcement shall carry the same meanings as those given to them in the announcement dated 29 November 2023 (“Initial Announcement”).

On 29 November 2023, MIDF Investment had on behalf of the Board, announced the proposed regularisation plan comprising of the following:

(a) Proposed Capital Reduction; 

(b) Proposed Rights Issue with Warrants; and 

(c) Proposed Private Placement, 

(collectively referred to as the “Initial Proposed Regularisation Plan”).

On behalf of the Board, MIDF Investment wishes to announce that the Company proposes to undertake revisions to the Proposed Rights Issue with Warrants and the Proposed Private Placement in the Initial Proposed Regularisation Plan. For the avoidance of doubt, the Proposed Capital Reduction as disclosed in the Initial Announcement shall remain unchanged.

(The revised Proposed Rights Issue with Warrants and revised Proposed Private Placement along with the Proposed Capital Reduction shall be referred to as the “Proposed Regularisation Plan”)

Further details of the Proposed Regularisation Plan are set out in the enclosed attachment. 

This announcement is dated 19 February 2024.