The Board of Directors of O&C Resources Berhad (“OCR”) wishes to announce that at the Extraordinary General Meeting (“EGM”) of the Company held on16 May 2016, at 2.00 p.m., the Special and Ordinary Resolutions set out in the Notice of EGM dated 22 April 2016 in relation to the following were duly approved by the shareholders of the Company:-

1. Proposed amendments to the Memorandum and Articles of Association of OCR to facilitate the proposed rights issue of irredeemable convertible preference shares with warrants and proposed increase in authorised share capital;
2. Proposed increase in the authorised share capital of OCR from RM100,000,000 comprising 400,000,000 ordinary shares of RM0.25 each (“OCR Shares”) to RM500,000,000 comprising 1,600,000,000 OCR Shares and 2,000,000,000 irredeemable convertible preference shares of RM0.05 each in OCR (“ICPS”);
3. Proposed renounceable rights issue of up to 735,074,052 ICPS on the basis of three (3) ICPS for every one (1) existing ordinary share of RM0.25 each in OCR held, together with up to 73,507,405 free detachable warrants (“Warrants”) on the basis of one (1) Warrant for every ten (10) ICPS subscribed at an entitlement date to be determined later; and
4. Proposed diversification of the business of OCR and its subsidiaries to include the property development business.

* The date of EGM should be 16 May 2016.

This announcement is dated 17 May 2016.