Reference is made to the previous announcements in relation to the Proposals (“Announcements”) and the circular to shareholders of Scanwolf in respect of the Proposals dated 8 February 2024 (“Circular”). Unless otherwise defined, the definitions set out in the Announcements and Circular shall apply herein.

On behalf of Scanwolf, AmInvestment Bank Berhad wishes to announce that the Existing SIS will be terminated with effect from 2 May 2024 (“Existing SIS Termination Date”). As at the Existing SIS Termination Date, 218,000 Existing SIS Options have been exercised and 24,200,000 Existing SIS Options with an exercise price of RM0.5445 were vested but yet to be exercised.

In accordance with the Existing SIS By-Law 19.6, upon termination of the Existing SIS:-

(i) no further offer shall be made by the SIS Committee from the Existing SIS Termination Date;

(ii) all offers which have yet to be accepted by any eligible employee or executive director of Scanwolf Group (excluding subsidiaries which are dormant) who meets the criteria of eligibility for participation in the Existing SIS shall automatically lapse on the Existing SIS Termination Date; and

(iii) all outstanding Existing SIS Options which have yet to be exercised by any Existing Grantees shall be deemed cancelled and be null and void.

The termination of the Existing SIS is in line with the Company’s proposal to replace the Existing SIS with the Proposed ESS as disclosed in the Circular and was approved by the shareholders of the Company at the Extraordinary General Meeting held on 27 February 2024 in respect of the Proposed ESS.

Further, all the necessary documents for the implementation of the Proposed ESS had been submitted to Bursa Securities on 2 May 2024 and the effective date for the implementation of the Proposed ESS is 2 May 2024.

This announcement is dated 2 May 2024.