Reference is made to the utilisation of proceeds from the Disposal as disclosed in the Company’s circular to shareholders dated 22 June 2017 and the announcement dated 1 August 2019 in relation to the variation and extension of timeframe for utilisation of proceeds raised from the Disposal. As at to-date, the remaining balance of RM66.5 million of the Disposal proceeds has yet to be utilised (as referred to in the ensuing section of this announcement as the “Balance Disposal Proceeds”).

The Board of Directors of Star Media wishes to inform that the Company intends to seek its shareholders’ approval to re-allocate and extend the timeframe for utilisation of the Balance Disposal Proceeds (“Proposed Variation”). The Proposed Variation will be tabled as Special Business at the forthcoming 52nd Annual General Meeting of the Company.

Further details of the Proposed Variation are set out in the attachment to this announcement.

This announcement is dated 15 March 2024.