On behalf of the Board of Directors of AMRB, Inter-Pacific Securities Sdn Bhd wishes to make the requisite announcement pursuant to Paragraph 4.2 of Practice Note 17 of Main Market Listing Requirements of Bursa Malaysia Securities Berhad, whereby the Company proposes to undertake a regularisation plan which shall comprise the following:-

(i)         proposed reduction of the Company’s share capital pursuant to Section 116 of the Companies Act, 2016 (“Act”) (“Proposed Share Capital Reduction”);

(ii)         proposed consolidation of every 10 existing ordinary shares in AMRB (“AMRB Shares” or “Shares”) into 1 AMRB Share (“Consolidated Share”) (“Proposed Share Consolidation”);

(iii)        proposed renounceable rights issue of new AMRB Shares (“Rights Shares”) together with free detachable warrants in AMRB (“Warrants”) (“Rights Warrants”) on the basis of 3 Rights Shares for every 4 Consolidated Shares held by entitled shareholders of the Company on an entitlement date to be determined later and 1 Rights Warrant for every 4 Rights Shares subscribed (“Proposed Rights Issue with Warrants”); and

(iv)        proposed settlement of part of the amount owing to the creditors of the Company via the issuance of new AMRB Shares (“Settlement Shares”) and Warrants (“Settlement Warrants”) pursuant to a scheme of arrangement under Section 366 of the Act (“Proposed Settlement”).

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

Please refer to the attached document for further details on the Proposed Regularisation Plan.

This announcement is dated 26 July 2024.