PNE PCB BERHAD — Capital/Financing Update 2025

Nov 4, 2025

OTHERS PNE PCB BERHAD ("PNE" OR "THE COMPANY") - EXTENSION ON TIMEFRAME FOR THE UTILISATION OF PROCEEDS RAISED FROM THE PRIVATE PLACEMENT INVOLVING 129,357,000 NEW ORDINARY SHARES OF PNE

PNE PCB BERHAD

TypeAnnouncementSubjectOTHERS

Description

PNE PCB BERHAD ("PNE" OR "THE COMPANY")
- EXTENSION ON TIMEFRAME FOR THE UTILISATION OF PROCEEDS RAISED FROM THE PRIVATE PLACEMENT INVOLVING 129,357,000 NEW ORDINARY SHARES OF PNE

Reference is made to the proposed utilisation of proceeds raised from the private placement of 129,357,000 new ordinary shares of PNE ("Private Placement") allocated for the capital expenditure for the Glove Business. The Company had raised total gross proceeds of RM10.93 million from the Private Placement ("Private Placement Proceeds").

To date, the Company has yet to fully utilise the Private Placement Proceeds, given the decline in the global average selling prices (“ASP”) of hand gloves over the past year and the decision to put on hold the evaluation of the glove business. As at the date of this announcement, the global glove industry continues to face challenging market conditions characterised by oversupply and subdued ASPs, although gradual recovery in demand is anticipated in 2025 based on projections by the Malaysian Rubber Glove Manufacturers Association (“MARGMA”).

In view of the prevailing market uncertainties, the Board wishes to extend the timeframe for the utilisation of the remaining Private Placement Proceeds for a further twelve (12) months to allow sufficient time for reassessment and strategic planning.

During the extended period, the Board will continue to monitor developments in both global and domestic glove markets, including trends in demand, ASP, and production costs. The Company will focus on assessing current industry conditions, engaging with potential partners or technology providers, and exploring alternative business models or diversification opportunities that could enhance long-term returns.

A summary of the revised utilisation of Proceeds is set out below:

Description	Proposed Utilisation RM’000	Actual Utilisation RM’000	Unutilised proceed RM’000	Initial Time Frame for Utilisation	Previously Revised Time Frame for Utilisation	Further Extension of Time for Utilisation
Capital expenditure for the Gloves Business	10,500	0	10,500	Within 24 months	Within 12 months	Within 12 months
Estimated expenses for the Private Placement 30%	430	430	0	Immediate	-	-
Total	10,930	430	10,500	-	-	-

The Board is of the opinion that the Extension of Time is in the best interest of the Company. The Extension of Time is not subject to any regularly authorities or shareholders' approval.

Nonetheless, the Company shall continue to be vigilant and prudent in managing the Private Placement Proceeds and will continue to disclose the status of the utilisation in the Company's quarterly results and annual report until it is fully utilised.

This announcement is dated 5 November 2025.

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Announcement Info

Company Name	PNE PCB BERHAD
Stock Name	PNEPCB
Date Announced	05 Nov 2025
Category	General Announcement for PLC
Reference Number	GA1-05112025-00034