The Board of Cypark Resources Berhad (“CRB”) is pleased to announce that Cypark Renewable Energy Sdn. Bhd. (“CRE”), a wholly-owned subsidiary of CRB, proposes to establish a perpetual Islamic medium term note programme of up to RM500.0 million in nominal value under the Shariah principle of Musharakah (the “Perpetual Sukuk Musharakah Programme”).

The Perpetual Sukuk Musharakah Programme allows for the issuance of unrated and subordinated perpetual Islamic medium term note (“Perpetual Sukuk Musharakah”) from time to time, with flexibility for CRE to issue secured Perpetual Sukuk Musharakah and/or unsecured Perpetual Sukuk Musharakah subject to the aggregate outstanding nominal amount of the Perpetual Sukuk Musharakah not exceeding RM500.0 million at any point in time. The Perpetual Sukuk Musharakah may be issued in one or more tranches. The secured Perpetual Sukuk Musharakah shall be secured by the security allocated for such tranche.

The proceeds from the issuance of the Perpetual Sukuk Musharakah shall be utilised by CRE and its subsidiaries for the following:

1. Refinancing of existing financing/borrowings;

2. Capital expenditure;

3. Working capital;

4. General corporate purpose; and/or

5. Defraying fees, costs and expenses in relation to the issuance of the Perpetual Sukuk Musharakah and the establishment of Perpetual Sukuk Musharakah Programme.

The utilisation of the proceeds of the Perpetual Sukuk Musharakah Programmes shall at all times be for Shariah-compliant purposes.

HB Investment Bank Berhad is the Principal Adviser, Lead Arranger and Lead Manager for the Perpetual Sukuk Musharakah Programme.

We further wish to announce that the Perpetual Sukuk Musharakah Programme have been lodged with the Securities Commission Malaysia (“SC”) on 4 June 2020 in accordance with the SC’s Guidelines on Unlisted Capital Market Products under the Lodge and Launch Framework issued by the SC on 9 March 2015 and revised on 28 April 2020 (as amended from time to time).

This announcement is dated 4 June 2020.