The Board of Directors of Eonmetall Group Berhad ("Company") ("Board") wishes to announce that the Board had on 6 August 2026 noted the termination of the Company's employees' share option scheme ("ESOS") with effect from 6 August 2026 ("ESOS Termination Date").
The ESOS was implemented on 8 October 2021 and was scheduled to expire on 7 October 2026.
As at the ESOS Termination Date, 49,390,000 granted ESOS options have been exercised at an exercise price of RM0.2283 per ESOS option, while 290,000 granted ESOS options remain outstanding and unexercised.
Following the shareholders' approval of the proposed selective capital reduction and repayment exercise pursuant to Section 116 of the Companies Act 2016 ("Proposed SCR") at the extraordinary general meeting of the Company held on 3 August 2026, the ESOS committee ("ESOS Committee") resolved on 6 August 2026 to terminate the ESOS in view of the approval and proposed implementation of the Proposed SCR, on the basis that the continuation of the ESOS is no longer necessary or appropriate and that its termination is in the best interests of the Company. Accordingly, the ESOS Committee has exercised its rights under the by-laws governing the ESOS ("ESOS By-Laws") to terminate the ESOS with effect from the ESOS Termination Date.
In accordance with the ESOS By-Laws, the following will take effect upon the termination of the ESOS:
1. No further offers of ESOS options shall be made by the ESOS Committee;
2. All offers of ESOS options which have not been vested and/or accepted by any eligible director or eligible employee shall automatically lapse; and
3. All outstanding ESOS options which have not been exercised by the participants of the ESOS shall automatically be terminated.
This announcement is dated 6 August 2026.