Unless otherwise stated, all definitions and terms used in this announcement shall have the same meaning as defined in the announcement dated 2 September 2022 in relation to the Proposals.

We refer to the announcements dated 2 September 2022, 7 September 2022 and 20 October 2022 in relation to the Proposals.

On behalf of the Board, KAF Investment Bank Berhad (“KAF IB”) wishes to announce that Bursa Securities had, vide its letter dated 16 November 2022, approved the listing and quotation of the following:

1. 20,500,669 Consideration Units to be issued pursuant to the Proposed Acquisition of Pasir Gudang Property; and
2. Up to 118,965,517 Al-‘Aqar Units to be issued pursuant to the Proposed Private Placement.

The approval granted by Bursa Securities for the listing and quotation of the Placement Shares is subject to the following conditions:

1. Confirmation by KAF IB on the compliance of at least 25% of the public unitholding spread requirements pursuant to Paragraph 8.02(1) of the Listing Requirements upon the listing and quotation of the Consideration Units;
2. Al-‘Aqar and KAF IB must fully comply with the relevant provisions under the Listing Requirements pertaining to the implementation of the Proposals;
3. KAF IB to furnish Bursa Securities with the certified true copy of the resolutions passed by the unitholders at extraordinary general meeting approving the Proposed Acquisition of Pasir Gudang Property;
4. Payment of additional listing fee, if any, based on the final issue price together with a copy of the details of the computation of the amount of listing fees payable;
5. KAF IB to inform Bursa Securities upon the completion of the Proposals; and
6. KAF IB to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities’ approval once the Proposals are completed.

This announcement is dated 16 November 2022.