n behalf of the Board, UOB Kay Hian wishes to announce that the Board had on 14 January 2021 ("Price-Fixing Date") resolved to fix the exercise price of the Warrants at RM1.77 per Warrant ("Exercise Price"). The Exercise Price represents a premium of approximately 29.65% to the 5-day VWAP of SCIB Shares of RM1.3652 per SCIB Share up to and including 13 January 2021, being the last trading day before the Price-Fixing Date ("LTD").

The Exercise Price was determined and fixed by the Board after taking into consideration the following:-

(i) the historical price movement of SCIB Shares after the Bonus Issue of Shares and the future funding requirements of SCIB Group;

(ii) the TEBP of SCIB Shares based on the 5-day VWAP of SCIB Shares up to and including the LTD, with a premium of up to 30% to the aforesaid 5-day VWAP of SCIB Shares;

(iii) Warrants are exercisable at any time for a tenure of 3 years from the date of issuance of the Warrants; and

(iv) Warrants will be issued at no cost.

Further, on behalf of the Board, UOB Kay Hian wishes to announce that the Board, had on 14 January 2021 executed the deed poll constituting up to 245,265,000 Warrants to be issued pursuant to the Issue of Free Warrants.



This announcement is dated 14 January 2021.