Reference is made to the Company’s announcements dated 12 October 2021, 28 October 2021, 1 November 2021, 9 November 2021, 7 December 2021, 10 December 2021 and 16 December 2021 (collectively, the “Announcements”), and the Company’s Circular to Shareholders dated 25 November 2021 (“Circular”) in relation to the Disposal. Unless otherwise stated, abbreviations and defined terms used throughout this announcement shall have the same meanings as those previously defined in the Announcements and the Circular.

The Company wishes to announce the following:

(a) the Buyer and the Seller had on 23 December 2021 mutually agreed to the adoption of the Closing Accounts as at Completion Date (“Agreed Date”); and

(b) the final Adjusted Consideration is approximately USD165.33 million (equivalent to approximately RM698.84 million) based on the Closing Accounts as at Completion Date after taking into account the agreed formula set out in Appendix IV of the Circular.

Based on the Closing Accounts as at Completion Date, the final Adjusted Consideration is being settled as follows:

 USD’million

 RM’million

Deposit paid by the Buyer on 12 October 2021

 5.00

 21.12

Proforma consideration paid by the Buyer as at Completion Date

 127.96

 540.89

Further consideration payable by the Buyer within 5 Business Days from the Agreed Date 

 3.43

 14.50

 Sub-total 

 136.39

 576.51

Deferred Payment payable by the Buyer in accordance with Appendix IV of the Circular

 28.94

 122.33

 Final Adjusted Consideration

 165.33

 698.84

For the purpose of this announcement, an exchange rate of USD1.00: RM4.227 is used based on the exchange rate as at 8 December 2021.