News

For consistency purposes, the abbreviations and definitions used throughout this announcement are the same as those previously defined in the Company’s abridged prospectus dated 4 October 2022 in relation to the Rights Issue (“Abridged Prospectus”).

We refer to the Company’s announcement dated 11 March 2022 and its subsequent announcements in relation to the Proposals as well as the Abridged Prospectus.

On behalf of the Board, KAF IB wishes to announce that as at 5:00 p.m. on 21 October 2022, being the closing date of the acceptance, excess application and payment for the Rights Shares (“Closing Date”), the Company had received valid acceptances and excess applications for a total of 1,600,000,000 Rights Shares, representing a subscription rate of 86.10% over the total number of Rights Shares available for subscription under the Rights Issue, resulting in an under-subscription rate of 13.90%.

The details of such valid acceptances and excess applications received are as follows:-

The Minimum Subscription Level for the Rights Issue had been achieved notwithstanding the under-subscription for the Rights Issue.

In view that the Rights Shares have not been fully subscribed for, the Board has decided to allot the Rights Shares to all the Entitled Shareholders and/or their renouncee(s)/transferee(s) (if applicable) who have applied for the Excess Rights Shares.

The Rights Shares are expected to be listed on the Main Market of Bursa Securities on 3 November 2022.

This announcement is dated 28 October 2022.