Pursuant to Chapter 10.06 of the ACE Market Listing Requirements (“AMLR”) of Bursa Malaysia Securities Berhad (“Bursa Securities”), the Board of Directors (“Board”) of FEHB wishes to announce that Fast Assets Sdn Bhd (“FASB”), a wholly-owned subsidiary of FEHB, had on 5 April 2024, subscribed an aggregate 140,000,000 rights shares and excess rights shares of Vsolar Group Berhad (“Vsolar”) at an issue price of RM0.10 each, representing approximately 28.15% equity interest of the enlarged share capital in Vsolar pursuant to the renounceable rights issue of up to 644,632,276 new ordinary shares in Vsolar (“Rights Shares”) together with up to 322,316,138 free detachable warrants (“Warrants C”) on the basis of 4 rights shares together with 2 Warrants C for every 1 existing Vsolar share held in Vsolar for a total cash consideration of RM14,000,000 (“Subscription Consideration”) (“the Subscription”).

Subsequent to the Subscription, FEHB (Indirect) and FASB (Direct) have become the substantial shareholders of Vsolar pursuant to Rule 9.19(26) of the AMLR of Bursa Securities. 

Please refer to the attachment for the details of the announcement. 

This announcement is dated 5 April 2024.