Proposed Variation to the Terms And Conditions of the Subscription Agreement Dated 14 June 2019, In Relation to The Issuance of Redeemable Convertible Notes With An Aggregate Principal Amount Of Up To RM150 Million ("Proposed Variation")

We refer to the circular to shareholders of the Company dated 21 August 2019 in relation to the issuance of redeemable convertible notes (“Notes”) with an aggregate principal amount of up to RM150 million (“Notes Issue”) under a redeemable convertible notes programme (“Previous Circular”). Unless otherwise defined, the definitions set out in the Previous Circular shall apply herein.

On behalf of the Board, Kenanga IB wishes to announce that SHIB had on 11 November 2019 entered into a supplemental agreement with the Subscriber to amend, modify, substitute, vary and alter the terms, conditions and provisions of the Subscription Agreement.

Please refer to the attachment for further details of the Proposed Variation.

This announcement is dated 11 November 2019.