Reference is made to the following announcements made by FSBM:

(a)  First announcement dated 16 October 2019 in relation to the Company being classified as an affected listed issuer pursuant to Paragraph 8.03A(2)(b) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad (“Bursa Securities”) (“Listing Requirements”);

(b)  First announcement dated 30 December 2019 in relation to the Company being classified as a Practice Note (“PN”) 17 Company pursuant to PN 17 of the Listing Requirements;

(c)   the subsequent announcements dated 1 November 2019, 2 December 2019, 2 January 2020, 3 February 2020, 2 March 2020, 1 April 2020, 4 May 2020, 1 June 2020, 1 July 2020, 3 August 2020, 1 September 2020, 1 October 2020, 2 November 2020, 1 December 2020, 4 January 2021, 2 February 2021, 1 March 2021, 1 April 2021, 3 May 2021, 1 June 2021, 1 July 2021, 2 August 2021, 23 August 2021, 1 September 2021, 23 September 2021, 1 October 2021, 15 October 2021, 1 November 2021, 8 November 2021, 9 November 2021, 1 December 2021, 3 January 2022, 3 February 2022, 1 March 2022, 1 April 2022, 15 April 2022, 21 April 2022, 26 April 2022, 5 May 2022, 19 May 2022, 1 June 2022 , 1 July 2022, 1 August 2022, 1 September 2022, 3 October 2022, 12 October 2022, 1 November 2022, 15 November 2022, 1 December 2022, 21 December 2022, 3 January 2023, 13 January 2023, 2 February 2023, 1 March 2023, 3 April 2023, 10 April 2023, 2 May 2023, 22 May 2023, 23 May 2023, 1 June 2023, 3 July 2023, 20 July 2023, 25 July 2023, 1 August 2023, 2 August 2023, 9 August 2023, 11 August 2023 and 22 August 2023;

(d)  circular to shareholders dated 28 April 2023 in relation to the Regularisation Plan;

(e)  announcement dated 22 May 2023 in relation to the outcome of extraordinary general meeting for the Regularisation Plan, whereby all resolutions in relation to the Regularisation Plan had been approved by shareholders; and

(f)  abridged prospectus dated 25 May 2023 in relation to the renounceable rights issue of up to 236,659,300 new ordinary shares in FSBM (“FSBM Shares”) (“Rights Shares”) on the basis of 1 Rights Share for every 1 existing FSBM Share held as at 5.00 p.m. on Friday, 25 August 2023, together with up to 118,329,650 free detachable warrants in FSBM (“Warrants”) on the basis of 1 Warrant for every 2 Rights Shares subscribed for at an issue price of RM0.03 per Rights Share (“Abridged Prospectus”)

The terms used herein shall bear the same meaning as defined in the Abridged Prospectus.

On behalf of the Board, Malacca Securities wishes to announce that as at the close of acceptance, excess application and payment for the Rights Issue with Warrants at 5.00 p.m. on Tuesday, 12 September 2023, the total acceptances and excess applications for the Rights Issue with Warrants were 1,063,945,972 Rights Shares, representing 449.57% subscription of the total number of Rights Shares available for subscription under the Rights Issue with Warrants.

The details of the subscription are set out below:-

Successful applicants of the Rights Shares will be given Warrants on the basis of 1 Warrant for every 2 Rights Shares successfully subscribed for.

In accordance with the procedure for Excess Application as stipulated in the Abridged Prospectus, the Board has allocated the excess Rights Shares with Warrants on a fair and equitable basis and in the following priority:

(i) Firstly, to minimise the incidence of odd lots;

(ii) Secondly, for allocation to Entitled Shareholders who have applied for the Excess Rights Shares with Warrants, on a pro-rata basis and in board lot, calculated based on their respective shareholdings in the Company as at the Entitlement Date;

(iii) Thirdly, for allocation to Entitled Shareholders who have applied for the Excess Rights Shares with Warrants, on a pro-rata basis and in board lot, calculated based on the quantum of their respective Excess Rights Shares with Warrants applied for; and

(iv) Finally, for allocation to renouncee(s) and/or transferee(s) (if applicable) who have applied for the Excess Rights Shares with Warrants, on a pro-rata basis and in board lot, calculated based on the quantum of their respective Excess Rights Shares with Warrants applied for.

In the event there is any remaining balance of the Excess Rights Shares with Warrants applied for by the Entitled Shareholders and/or renouncee(s) and/or transferee(s) who have applied for the Excess Rights Shares with Warrants after carrying out steps (i) to (iv) as set out above, steps (ii) to (iv) will be repeated again in the same sequence to allocate the remaining balance of the Excess Rights Shares with Warrants to the Entitled Shareholders and/or renouncee(s) and/or transferee(s) who have applied for the Excess Rights Shares with Warrants until such balance is fully allocated.

Nevertheless, our Board reserves the right to allot any Excess Rights Shares with Warrants applied for under Part I(B) of the RSF in such manner as our Board deems fit and expedient, and in the best interest of our Company subject always to such allocation being made on a fair and equitable basis, and that the intention of our Board as set out in steps (i) to (iv) above are achieved. Our Board also reserves the rights at its absolute discretion to accept in full or in part any application for the Excess Rights Shares with Warrants without assigning any reason thereof.

The Rights Shares and Warrants are expected to be listed on the Main Market of Bursa Securities on 26 September 2023.

This announcement is dated 18 September 2023.