covenant breached if CIMB is the largest shareholder - the Issuer shall at all times ensure that Mr. Wong Thean Soon shall not sell, transfer or otherwise dispose of his shares in the Issuer (whether by a single transaction or a number of transactions, related or not) resulting in him ceasing to be, either directly or indirectly, the single largest shareholder of the Issuer without the consent of the Sukukholders via an extraordinary resolution

Substantial shareholders have 3 DAYS to notify a public listed company and the Companies Commission of Malaysia (CCM) after crossing the 5% threshold, changing their stake, or ceasing to be a substantial shareholder. Under Sections 137, 138, and 139 of the Companies Act 2016, this 3-day timeline applies STRICTLY to companies listed on Bursa Malaysia. (Unlisted public companies are given 5 days)

Once in “Limit Down” club due to margin calls (started end August 2026 when 60 Sen level cannot be duly supported and selling momentum yet to abate), it will be dependent if the substantial shareholders able to resolve immediate funding issues/gap or the appearance of “White Knight”. The plateauing range (how low is the share price margin financiers willing to exit) will be dependent on the above and how far the margin financiers that are having “cold feet” are willing to disposed off the collaterals.

As long as daily average volume remains high (ie. > 100m shares traded with high Buy & Sell Qs) and amongst daily Bursa most active volume (Top 10), margin calls selling pressure remains and yet to abate. VWAP remains stable at ~ 0.1966 this morning.