We refer to the announcements dated 28 February 2019, 1 March 2019 and 4 March 2019 in relation to the Proposals ("Announcements"). Unless stated otherwise, abbreviations and definitions used throughout this announcement shall be the same as those in the Announcements. 

On behalf of the Board, IPS and Astramina are pleased to announce that Bursa Securities had, vide its letter dated 13 March 2019 resolved to approve the following: 

1.  Listing and quotation of 65,083,000 Sunsuria Shares to be issued pusuant to the Proposed Issuance of Shares; and

2.  Listing and quotation of such number of additional new ordinary shares representing up to 10% of the issued share capital of Sunsuria, to be issued upon exercise of options under the Proposed ESOS.

The approvals by Bursa Securities are subject to the following conditions:

1.  Sunsuria and IPS must fully comply with the relevant provisions under the Listing Requirements pertaining to the implementation of the Proposed Issuance of Shares and the Proposed ESOS;

2.  Sunsuria and IPS to inform Bursa Securities upon the completion of the Proposed Issuance of Shares;

3.  Sunsuria/IPS to furnish Bursa Securities with a certified true copy of the resolution passed by the shareholders in a general meeting approving the Proposed Issuance of Shares prior to the listing and quotation of the Issuance Shares;

4.  Sunsuria and IPS to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities’ approval once the Proposed Issuance of Shares is completed;

5.  IPS is required to submit a confirmation to Bursa Securities of full compliance of the Proposed ESOS pursuant to Paragraph 6.43(1) of the Listing Requirements and stating the effective date of implementation together with the following:

     (a)  a certified true copy of the resolution passed by the shareholders of Sunsuria in a general meeting approving the Proposed ESOS; and

     (b)  letter of compliance in relation to the By-Laws pursuant to Paragraph 2.12 of the Listing Requirements together with a copy of the final By-Laws;

6.  Sunsuria is required to furnish Bursa Securities on a quarterly basis a summary of the total number of shares listed pursuant to the exercise of options under the Proposed ESOS as at the end of each quarter together with a detailed computation of listing fees payable; and

7.  to incorporate Bursa Securities’ comments in respect of the draft circular to shareholders of Sunsuria to be issued in relation to the Proposals.

This announcement is dated 13 March 2019.