Unless otherwise stated, the abbreviations and definitions used in this announcement shall have the same meanings as those previously defined in the Company’s announcements dated 27 May 2020, 6 July 2020, 9 July 2020, 10 August 2020, 2 September 2020, 9 September 2020, and 2 October 2020 (“Announcements”), and the Circular to shareholders of the Company dated 11 August 2020 (“Circular”) in relation to the Rights Issue of ICPS.

We refer to the Announcements and the Circular in relation to the Rights Issue of ICPS.

On behalf of the Board, RHB Investment Bank wishes to announce that the Board had on 22 October 2020 resolved to fix the Conversion Price at RM1.00 per Sunway Share, being the lower of:

(i) RM1.00 per Sunway Share; and

(ii) RM1.10 per Sunway Share which represents approximately 20% discount to the 5-day VWAP of Sunway Shares up to and including 21 October 2020, being the last trading date immediately before the price-fixing date of the Conversion Price, of RM1.37 per Sunway Share. 

The Conversion Price of RM1.00 per Sunway Share represents a discount of approximately:

(i) 27.0% to the 5-day VWAP of Sunway Shares up to and including 21 October 2020 of RM1.37 per Sunway Share; and

(ii) 23.7% to the TERP of RM1.31 per Sunway Share calculated based on the closing market price of Sunway Shares as at 21 October 2020.

This announcement is dated 22 October 2020.