We refer to the announcements dated 31 May 2022 ("First Announcement") and the subsequent announcements dated 19 May 2023 in respect of the application to Bursa Securities for an extension of time to submit its regularisation plan ("1st EOT Application"), the announcement dated 13 June 2023 in respect of Bursa Securities' approval for the 1st EOT Application, the announcement dated 30 October 2023 in respect of the application to Bursa Securities for a further extension of time to submit its regularisation plan ("2nd EOT Application"), the announcement dated 14 December 2023 in respect of Bursa Securities' approval for the 2nd EOT Application, the announcement dated 30 May 2024 in respect of the application to Bursa Securities for a further extension of time to submit its regularisation plan ("3rd EOT Application") , the announcement dated 1 July 2024 in respect of Bursa Securities’ approval for the 3rd EOT Application and the announcement dated 18 November 2024 in respect of the application to Bursa Securities for a further extension of time to submit its regularisation plan ("4th EOT Application"). Unless otherwise stated, all terms used herein shall have the same meaning as defined in the said announcements.

On behalf of the Board of Directors of SEB, MIDF Amanah Investment Bank Berhad (“MIDF Investment”) wishes to announce that Bursa Securities had, vide its letter dated 16 December 2024, granted the Company an extension of time of 6 months up to 31 May 2025 for SEB to submit its regularisation plan to the relevant regulatory authorities. 

The aforesaid extension of time is without prejudice to Bursa Securities’ right to proceed to suspend the trading of the listed securities of SEB and to de-list the Company in the event:

(i) the Company fails to submit its regularisation plan to the relevant regulatory authorities on or before 31 May 2025;

(ii) the Company fails to obtain the approval from any of the regulatory authorities necessary for the implementation of its regularisation plan; or

(iii) the Company fails to implement its regularisation plan within the time frame or extended time frame stipulated by any of the regulatory authorities.

Upon occurrence of any of the events set out in (i) to (iii) above, Bursa Securities shall suspend the trading of the listed securities of SEB on the 6th market day after the date of notification of suspension by Bursa Securities and de-list the Company, subject to the Company’s right to appeal against the delisting.

This announcement is dated 17 December 2024.