MESB BERHAD [Registration No. 199501008356 (337554-D)]

(Incorporated In Malaysia)

SUMMARY OF KEY MATTERS DISCUSSED

AT THE TWENTY-FOURTH ANNUAL GENERAL MEETING

 The Twenty-Fourth Annual General Meeting (“24th AGM”) of the MESB Berhad (“the Company” or “MESB”) was held at Level 2, Hotel Sri Petaling, 30, Jalan Radin Anum, Bandar Baru Sri Petaling, 57000 Kuala Lumpur on Thursday, 19 December 2019 at 9.30 a.m.

The following key matters were discussed during 24th AGM of the Company, which were duly responded by the Chairman and the Chief Executive Officer of the Company:-

AGENDA 1 –  AUDITED FINANCIAL STATEMENTS FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2019

Q1.   Based on the Audited Financial Statements for the financial period ended 30 June 2019, the earnings per share of the Group stood at 9.19 cents and the Group was in a profit position. Would the Company consider declaring dividend to reward its shareholders?

A1.    Although the Company recorded profits for the current year, this merely covered the losses in the previous two (2) financial years. The Board would take into consideration of the Group’s operating results, working capital requirement, growth and expansion plans before making recommendation of dividend payment. The Board would endeavour to achieve a better financial performance and reward the shareholders.

Q2.  The reasons for the Group unable to sustain the growth momentum in each quarter.

A2.    The retail business would pick up during the festive season such as Chinese New Year and Hari Raya and thus, the Group generated profit during the period from April to June 2019.

AGENDA 9 – AUTHORITY TO ISSUE AND ALLOT SHARES

 Q3.   The reason to seek shareholders’ approval for the authority to issue and allot shares, as the shareholders had on 26 November 2019 via Extraordinary General Meeting granted approval for the private placement.

A3.    The general mandate sought will provide flexibility to the Company for any possible fund-raising activities for further placement of shares for purpose of funding current and/or future investment projects, working capital, repayment of borrowings and/or acquisitions, if any.

NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : FUND RAISING MESB BERHAD (“MESB” OR THE “COMPANY”) PRIVATE PLACEMENT OF UP TO 30% OF THE ISSUED SHARE CAPITAL OF MESB TO INDEPENDENT THIRD PARTY INVESTOR(S) TO BE IDENTIFIED AT A LATER DATE (“PRIVATE PLACEMENT”)

Quarterly rpt on consolidated results for the financial period ended 30 Sep 2019

Amended Announcements

Please refer to the earlier announcement reference number: FRA-22112019-00054

Financial Year End                                                                            30 Jun 2020

Quarter                                                                                                1 Qtr

Quarterly report for the financial period ended                          30 Sep 2019

The figures                                                                                         have not been audited

Attachments

MESB-Quarterly Results-30.09.2019-v2

MESB – 2018 – 2nd Quarterly Report – 30.09.2018

Remarks :

This amendment is made to rectify the error on item A12 Contingent Liabilities and item B6 Corporate Proposals for the earlier announcement dated 28 November 2019. Apart from the above, all other information/disclosure in the earlier First Quarterly Results remain unchanged.

The Company has changed its financial year ended from 31 March to 30 June and the announcement on the change of financial year end has been made to Bursa Malaysia Securities Berhad on 23 August 2018.

Consequently, there was no comparative figure available for the period ended 30 September 2019. A copy of the interim financial report for the quarter ended 30 September 2018 is attached for reference purpose only.