The Board of Directors of Cnergenz (“Board”), wishes to announce that SiP Technology, its wholly-owned subsidiary, had entered into a conditional sale and purchase agreement (“SPA”) with the Penang Development Corporation (“PDC” or the “Vendor”) for the proposed acquisition of all that piece of land situated in Daerah Seberang Perai Tengah and forming part of Mukim 13, the site whereof is marked Plot 31 Penang Science Park North (“the Land”) for a total purchase price of RM3,022,410.50 (“Purchase Price”). The duly executed and stamped SPA dated 13 July 2022 was received by the Board on 17 August 2022.

Further details of the Proposed Acquisition are set out in the attachment.

This announcement is dated 17 August 2022.