【MMAG 0034 交流专区】 (前名 INGENCO)

icy97

MMAG HOLDINGS BERHAD

1. Details of Corporate Proposal
Involve issuance of new type/class of securities ?	No
Types of corporate proposal	Exercise of Warrants
Details of corporate proposal	Conversion of Warrants
No. of shares issued under this corporate proposal	27,322,700
Issue price per share ($$)	Malaysian Ringgit (MYR)   0.1500
Par Value($$) (if applicable)
Latest issued share capital after the above corporate proposal in the following
Units	2,149,758,301
Issued Share Capital ($$)	Malaysian Ringgit (MYR) 554,376,735.470
Listing Date	24 Sep 2024

icy97

MMAG HOLDINGS BERHAD

1. Details of Corporate Proposal
Involve issuance of new type/class of securities ?	No
Types of corporate proposal	Exercise of Warrants
Details of corporate proposal	Conversion of Warrants
No. of shares issued under this corporate proposal	159,874,850
Issue price per share ($$)	Malaysian Ringgit (MYR)   0.1500
Par Value($$) (if applicable)
Latest issued share capital after the above corporate proposal in the following
Units	2,309,633,151
Issued Share Capital ($$)	Malaysian Ringgit (MYR) 578,357,962.970
Listing Date	27 Sep 2024

icy97

Type	Announcement
Subject	OTHERS
Description	MMAG HOLDINGS BERHAD ("MMAG" OR "THE COMPANY")- MMAG TRIGGERS PARAGRAPH 2.1(G) OF THE GUIDANCE NOTE 3 OF THE ACE MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD
Pursuant to Paragraph 2.1(g) of the Guidance Note 3 (“GN3”) of the ACE Market Listing Requirements ("Listing Requirements") of Bursa Malaysia Securities Berhad ("Bursa Securities"), the Board of Directors of the Company wishes to announce that the Company has triggered Paragraph 2.1(g) of GN3 of the Listing Requirements. The external auditors of the Company, Messrs Grant Thornton Malaysia PLT, have expressed material uncertainty related to the going concern (“MUGC”) of the Company in the audited financial statements for the financial year ended 31 March 2023 and the shareholders’ equity of the Company on a consolidated basis is 50% or less of its issued share capital calculated based on the unaudited financial results of the Company as at 30 June 2024. We wish to inform that the Company will submit an application for a waiver from being classified as an affected listed issuer to Bursa Securities as the Company has already taken measures by undertaking and completing the Rights Issue on 23 January 2024 raising RM145.34 million. In addition, warrants converted subsequent to January 2024 till todate has raised an additional RM92.09 million. Following the successful completion of the Rights Issue and the proceeds arising from the conversion of the warrants, the Board of Directors is of the view that the Group’s net assets has strengthened from RM170.62 million based on the audited financial statements for the financial year ended 31 March 2023 to RM220.77 million based on the unaudited financial results as at 30 June 2024. The Group’s cash position has also improved from RM13.03 million based on the audited financial statements for the financial year ended 31 March 2023 to RM78.86 million based on the unaudited financial results as at 30 June 2024. Net current assets (current assets have exceeded current liabilities) have also improved from a net current liabilities of RM56.87 million based on the audited financial statements for the financial year ended 31 March 2023 to a net current assets of RM39.46 million based on the unaudited financial results as at 30 June 2024. With these developments, the Board of Directors is confident of our financial stability moving forward. We will make the necessary announcement on further development in accordance with the requirements under the Listing Requirements. The announcement is dated 2 October 2024.