Scanwolf : Multiple Proposals

We refer to the announcements dated 2 February 2021, 4 February 2021, 8 February 2021 and 7 May 2021 in relation to the Proposals ('Announcements'). Unless otherwise defined, the definitions set out in the Announcements shall apply herein.

On behalf of the Board, AmInvestment Bank wishes to announce that Bursa Securities had, vide its letter dated 18 May 2021, approved the following:

(i) Admission to the Official List and listing of and quotation for up to 134,971,200 new ICULS, comprising of up to 104,971,200 new ICULS to be issued pursuant to the Proposed Rights Issue of ICULS with Warrants and 30,000,000 new ICULS to be issued pursuant to the Proposed Creditor Capitalisation on the Main Market of Bursa Securities;

(ii) Admission to the Official List and listing of and quotation for up to 52,485,600 new Warrants to be issued pursuant to the Proposed Rights Issue of ICULS with Warrants on the Main Market of Bursa Securities; and

(iii) Listing of and quotation for the following on the Main Market of Bursa Securities comprising:

1. Up to 134,971,200 new Scanwolf Shares to be issued upon the conversion of the ICULS;

2. Up to 52,485,600 new Scanwolf Shares to be issued upon the exercise of the Warrants; and

3. Up to 15% of the total number of issued Scanwolf Shares to be issued upon the exercise of SIS Options pursuant to the Proposed SIS.

The approval by Bursa Securities is subject to the following conditions:

1. Scanwolf and AmInvestment Bank must fully comply with the relevant provisions under the Main Market Listing Requirements of Bursa Securities pertaining to the implementation of the Proposals;

2. Scanwolf and AmInvestment Bank to inform Bursa Securities upon the completion of the Proposals respectively;

3. Scanwolf and AmInvestment Bank to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities' approval once the Proposals are completed respectively;

4. Scanwolf to furnish Bursa Securities with a certified true copy of the resolutions passed by the shareholders in general meeting approving the Proposals;

5. Scanwolf to furnish Bursa Securities on a quarterly basis a summary of the total number of shares listed pursuant to the conversion of the ICULS, exercise of Warrants and issuance of new shares under the Proposed SIS as at the end of each quarter together with a detailed computation of listing fees payable; and

6. AmInvestment Bank is required to submit a confirmation to Bursa Securities of full compliance of the Proposed SIS pursuant to Paragraph 6.43(1) of the Main Market Listing Requirements and stating the effective date of implementation.

This announcement is dated 18 May 2021.

Announcement Info

Company Name	SCANWOLF CORPORATION BERHAD
Stock Name	SCNWOLF
Date Announced	18 May 2021
Category	General Announcement for PLC
Reference Number	GA1-18052021-00071