The Board of Directors of PinePac (“Board”) refer to the First Announcement made on 3rd September 2019 and the subsequent monthly announcements in relation to the Company being classified as an affected listed issuer pursuant to Paragraph 8.03A(2) of the Main Market Listing Requirements (“MMLR”) of Bursa Malaysia Securities Berhad (“Bursa Securities”).

Unless otherwise stated, all abbreviations and definitions used herein shall have the same meanings as defined in the said announcements.

The Board wishes to inform that subsequent to our announcement dated 1st March 2024, there is no material development on the status of the Company’s regularisation plan. The Board of Directors is cognizant of the timeline to regularize its financial conditions and will endeavour to source for opportunities as per the listing requirements.

Our on-going efforts to regularise our affected listed issuer conditions, are still subject to key metrics imposed and subsequent approvals from the relevant regulatory bodies.

The Company has on 1st March 2024 submitted an application to Bursa Securities to seek approval for a further extension of time for the Company to submit its proposed regularisation plan (EOT Application) pursuant to Paragraph 8.03A of the MMLR and pending a decision from said application.

This announcement is dated 1st April 2024.