Bursa
Announcements

Reference is made to the announcements on 29 January 2014 and 26 February 2014 in relation to the Proposals (“Announcements”). For consistency, the abbreviations and definitions used throughout this announcement are the same as those previously defined in the Announcements.

On behalf of the Board of Directors of Ekovest (“Board”), AmInvestment Bank Berhad (“AmInvestment Bank”) is pleased to announce that Bursa Malaysia Securities Berhad (“Bursa Securities”) had vide its letter dated 27 March 2014, resolved to approve the following:-

(i)         Proposed Share Split;

(ii)         Listing of such number of new ordinary shares in Ekovest representing up to 15% of the issued and paid-up share capital of the Company (excluding treasury shares) pursuant to the Proposed ESOS;

(iii)        In the event the Proposed Share Split takes place before the Proposed Rights Issue With Warrants is implemented:-

(a)     Up to 244,413,960 new ordinary shares of RM0.50 each in Ekovest to be issued pursuant to the Proposed Rights Issue With Warrants;

(b)     Admission to the Official List and the listing and quotation of up to 122,206,980 Warrants to be issued pursuant to the Proposed Rights Issue With Warrants; and

(c)     Listing of up to 122,206,980 new ordinary shares of RM0.50 each in Ekovest to be issued pursuant to exercise of Warrants.

(iv)        In the event the Proposed Share Split is not implemented:-

(a)     Up to 122,206,980 new ordinary shares of RM1.00 each in Ekovest to be issued pursuant to the Proposed Rights Issue With Warrants;

(b)     Admission to the Official List and the listing and quotation of up to 61,103,490 Warrants to be issued pursuant to the Proposed Rights Issue With Warrants; and

(c)     Listing of up to 61,103,490 new ordinary shares of RM1.00 each in Ekovest to be issued pursuant to exercise of Warrants.

The approval granted by Bursa Securities is subject to, inter-alia, the following conditions:-

(i)         Ekovest and AmInvestment Bank must fully comply with the relevant provisions under the Main Market Listing Requirements of Bursa Securities (“LR”) pertaining to implementation of the Proposals;

(ii)         Ekovest and AmInvestment Bank to inform Bursa Securities upon completion of the Proposals;

(iii)        Ekovest to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities’ approval once the Proposals is completed;

(iv)        Ekovest is required to furnish Bursa Securities on a quarterly basis a summary of the total number of shares listed pursuant to exercise of Warrants and ESOS as at the end of each quarter together with a detailed computation of listing fees payable;

(v)         Ekovest and AmInvestment Bank are required to make the relevant announcements pursuant to Paragraph 13.10(2) of the LR pursuant to the Proposed Share Split;

(vi)        AmInvestment Bank is required to submit a confirmation to Bursa Securities of full compliance of the Proposed ESOS pursuant to Paragraph 6.43(1) of the LR and stating the effective date of implementation; and

(vii)       To provide Bursa Securities with a certified true copy of the resolution passed by shareholders at the extraordinary general meeting for the Proposals.

This announcement is dated 28 March 2014.