Newsroom

We refer to the announcements dated 2 November 2016, 7 November 2016, 30 November 2016, 28 April 2017, 11 October 2017, 16 October 2017, 30 October 2017, 15 November 2017, 4 December 2017, 7 December 2017 and 8 December 2017 respectively in relation to the following Acquisitions (“Announcements”) which were completed on 8 December 2017:-

(i) Acquisition of an additional 42% equity interest by TDEX in Idealseed Resources Sdn. Bhd. (“Idealseed”) for a total purchase consideration of RM2,677,500 (“Acquisition I”); and

(ii) Acquisition of the remaining 50% equity interest in Surfstek Resources (R&D) Sdn. Bhd. (“Surfstek Resources (R&D)”) by TDEX for a total purchase consideration of RM13,455,000 (“Acquisition II”)

(collectively referred to as “the Acquisitions”).

Unless otherwise stated, definitions used in this announcement shall carry the same meaning as defined in the Company’s Announcements.

Pursuant to the terms of the profit guarantee in the Acquisitions as set out in the Circular to Shareholders dated 30 October 2017 in respect of Tan Wah Choy and Wong Siam Hong ("Idealseed Vendors") and Surfstek Resources (M) Sdn. Bhd. (“Surfstek”) had provided their respective profit guarantee of the total aggregate audited consolidated profit after tax (“PAT”) for the financial year ended 30 April 2017 and 30 April 2018 for Idealseed and Surfstek respectively as set out in Appendix I and Appendix II.

Please refer to the Appendix I and Appendix II attached to this announcement for further information.

This announcement is dated 5 November 2018.