(For consistency purposes, the abbreviations and definitions used throughout this announcement shall have the same meanings as those previously defined in the Abridged Prospectus dated 5 May 2021 issued by the Company in relation to the renounceable rights issue with free detachable warrants (“Rights Issue with Warrants”)). 

The Board of Directors of MTOUCHE (“the Board”) wishes to inform that as at 30 May 2024, the Company has yet to fully utilise the proceeds raised from the Rights Issue with Warrants and the Board requires additional time to utilise the balance proceeds amounting to approximately RM31.26 million (“Extension of Time”).

The Board has resolved to extend the time frame for the utilisation of the said proceeds for another twelve (12) months period from 3 June 2024 to 2 June 2025 ("Revised Time Frame") to provide additional time for the Group to utilise the balance proceeds. Details of the Revised Time Frame are as set out in the table below:-

The Board, having considered all aspects of the proposed Extension of Time, is of the opinion that the Revised Time Frame is in the best interest of the Group and will not have material adverse effect on the financial performance of the Group.

The Revised Time Frame does not require the approval of the any regulatory authorities or the shareholders of MTOUCHE.

The Company shall continue to be vigilant and prudent in managing the remaining proceeds raised from issuance of Rights Issue with Warrants and will continue to disclose the status of the utilisation in the Company's quarterly results and annual reports until it is fully utilised.

This announcement is dated 30 May 2024.