Transition into Phase 2 Of National Total Lockdown Under the National Recovery Plan (“NRP”) by Government of Malaysia

The board of directors (“Board”) of Fortress Minerals Limited (the “Company” and together with its subsidiaries, the “Group”) refers to the announcement released by the Company on 28 June 2021 on the further extension of the National Lockdown by the Government of Malaysia.

The Board wishes to update shareholders of the Malaysian government’s announcement on 3 July 2021(1) on the transition into Phase 2 of the National Lockdown under the NRP in Perlis, Kelantan, Perak, Pahang and Terengganu on 5 July 2021.

Following the Standard Operating Procedures (“SOP”) of Phase 2 of the NRP, our mining and processing activities in Bukit Besi, Terengganu, Malaysia have resumed at the approved worker capacity of 80% on 5 July 2021.

The Group will continue to have in place the appropriate health, hygiene and distancing measures and adhere to the standard operating procedures at all times to keep its staff safe.

At this stage, the Group is unable to quantify nor determine the extent of the financial impact of Phase 2 of the National Lockdown on the earnings per share and net asset value per share of the Group for the financial year ending 28 February 2022.

The Board will continue to monitor the evolving situation and will make the appropriate announcement(s) as and when there are material developments on this matter.

Source:
(1) The Edge Markets

BY ORDER OF THE BOARD OF
FORTRESS MINERALS LIMITED

Dato’ Sri Ivan Chee Yew Fei
Chief Executive Officer
05 July 2021

 

 

This announcement has been reviewed by the Company’s sponsor, PrimePartners Corporate Finance Pte. Ltd. (the “Sponsor”). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the “Exchange”) and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document. The Sponsor has also not drawn on any specific technical expertise in its review of this announcement.

The contact person for the Sponsor is Ms. Jennifer Tan, 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, [email protected].