VSOLAR GROUP BERHAD — Capital/Financing Update 2026

Apr 1, 2026

OTHERS VSOLAR GROUP BERHAD (VSOLAR OR THE COMPANY) EXTENSION OF TIME FOR THE UTILISATION OF PROCEEDS RAISED FROM RENOUNCEABLE RIGHTS ISSUE WITH FREE DETACHABLE WARRANTS

VSOLAR GROUP BERHAD

TypeAnnouncementSubjectOTHERS

Description

VSOLAR GROUP BERHAD (VSOLAR OR THE COMPANY)
EXTENSION OF TIME FOR THE UTILISATION OF PROCEEDS RAISED FROM RENOUNCEABLE RIGHTS ISSUE WITH FREE DETACHABLE WARRANTS

(For consistency, the abbreviations used throughout this announcement shall have the same meanings as defined in the announcements dated 5 April 2024 and 13 June 2025 in relation to the Renounceable Rights Issue of 336,093,017 New Vsolar Shares together With 168,046,493 Free Detachable Warrants 2024 (Rights Issue with Warrants 2024), where applicable, unless stated otherwise or defined herein.)

The Board of Directors of Vsolar (Board) wishes to inform that as of 2 April 2026, the Company has yet to fully utilise the proceeds raised from the Rights Issue with Warrants 2024 and the Board requires additional time to utilise the balance proceeds amounting to RM24,279,000.00 for the solar PV leasing projects (Extension of Time).

The Board has resolved to extend the time frame for the utilisation of the said proceeds for another twelve (12) months period from 5 April 2026 to 4 April 2027 (Revised Time Frame) to provide additional time for the Group to utilise the balance of proceeds for the purpose.

The details of the Revised Time Frame are as follows:

Purpose	Proposed Utilisation RM'000	Actual Utilisation RM'000	Unutilised Proceeds RM'000	Utilisation timeframe (from listing of shares)	Intended Time Frame for Utilisation	Proposed Revised Time Frame
Funding for Solar PV leasing projects	24,279	-	24,279	Within 24 months	4 April 2026	4 April 2027
To acquire existing Solar Photovoltaic (PV) rooftop system	8,330	(8,330)	-	Within 12 months from the variation	-	-
Estimated expenses for the Rights Issue with Warrants	1,000	(1,000)	-	Within 1 month	-	-
Total	33,609	(9,330)	24,279	-	-	-

The Revised Time Frame does not require the approval of any regulatory authorities or the shareholders of Vsolar.

The Board, having considered all aspects of the proposed Extension of Time, is of the opinion that it will not have material adverse effect on the financial performance of the Group and is in the best interest of the Group.

The Company shall continue to be vigilant and prudent in managing the remaining proceeds raised from the Rights Issue with Warrants 2024 and will continue to disclose the status of the utilisation in the Company's quarterly results and annual reports until it is fully utilised.

This announcement is dated 2 April 2026.

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Announcement Info

Company Name	VSOLAR GROUP BERHAD
Stock Name	VSOLAR
Date Announced	02 Apr 2026
Category	General Announcement for PLC
Reference Number	GA1-31032026-00125