Bursa Announcements

We refer to the announcements dated 16 November 2022 and 24 November 2022 in relation to the Proposed Bonus Issue (“Announcements”). Unless otherwise defined, the definitions set out in the Announcements shall apply herein.

On behalf of the Board of Directors of ELK-Desa, MIDF Investment wishes to announce that Bursa Malaysia Securities Berhad (“Bursa Securities”) has vide its letter dated 1 December 2022, resolved to approve the listing of and quotation of up to 151,603,559 new ELK-Desa Shares to be issued pursuant to the Proposed Bonus Issue.

The approval granted by Bursa Securities for the Proposed Bonus Issue is subject to the following conditions:

(i)    ELK-Desa and MIDF Investment must fully comply with the relevant provisions under the MMLR pertaining to the implementation of the Proposed Bonus Issue;

(ii)   MIDF Investment to inform Bursa Securities upon the completion of the Proposed Bonus Issue;

(iii)  MIDF Investment to furnish to Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities’ approval once the Proposed Bonus     Issue is completed;

(iv)  ELK-Desa is required to make the relevant announcements pursuant to Paragraphs 6.35(2)(a) & (b) and 6.35(4) of the MMLR;

(v)   ELK-Desa or MIDF Investment to furnish Bursa Securities with a certified true copy of the resolution passed by the shareholders at an extraordinary general meeting for the Proposed Bonus Issue;

(vi)  Payment of outstanding processing fee based on the market value of the Bonus Shares to be listed (based on the adjusted price), if applicable. In this respect, the Company is required to furnish Bursa Securities a cheque drawn to the order of Bursa Malaysia Securities Berhad for the outstanding processing fee together with a copy of the details of the computation of the amount of fees payable; and

(vii) To incorporate the comments made in the circular to shareholders.

This announcement is dated 2 December 2022.