INITIAL PUBLIC OFFERING IN CONJUNCTION WITH THE LISTING OF VOLCANO BERHAD ("VOLCANO") ON THE ACE MARKET OF BURSA MALAYSIA SECURITIES BERHAD COMPRISING: - (A) PUBLIC ISSUE OF 25,000,000 NEW ORDINARY SHARES IN VOLCANO ("SHARES") IN THE FOLLOWING MANNER: - (i) 8,250,000 NEW SHARES AVAILABLE FOR APPLICATION BY THE MALAYSIAN PUBLIC; (ii) 8,250,000 NEW SHARES AVAILABLE FOR APPLICATION BY OUR ELIGIBLE DIRECTORS, KEY SENIOR MANAGEMENT PERSONNEL, EMPLOYEES AND BUSINESS ASSOCIATES (INCLUDING ANY OTHER PERSONS WHO HAVE CONTRIBUTED TO OUR SUCCESS); AND (iii) 8,500,000 NEW SHARES BY WAY OF PRIVATE PLACEMENT TO IDENTIFIED INVESTORS; AND (B) OFFER FOR SALE OF 35,000,000 SHARES IN THE FOLLOWING MANNER: - (i) 14,375,000 SHARES BY WAY OF PRIVATE PLACEMENT TO IDENTIFIED INVESTORS; AND (ii) 20,625,000 SHARES BY WAY OF PRIVATE PLACEMENT TO IDENTIFIED BUMIPUTERA INVESTORS APPROVED BY THE MINISTRY OF INTERNATIONAL TRADE AND INDUSTRY ("MITI"); AT AN ISSUE/OFFER PRICE OF RM0.35 PER SHARE, PAYABLE IN FULL ON APPLICATION