Bursa
Announcements

We refer to the announcements dated 19 August 2016, 21 September 2016 and 2 November 2016 in relation to the Proposed Disposal (“Announcements”).

Unless otherwise defined, all expressions used in this announcement shall carry the same meaning as defined in the Announcements.

On behalf of the Board of Directors of Ekovest ("Board"), CIMB Investment Bank Berhad (“CIMB”), Astramina Advisory Sdn Bhd (“Astramina”) and AmInvestment Bank Berhad (“AmInvestment”) wishes to announce that Nuzen, a wholly-owned subsidiary of Ekovest, had on 8 November 2016 entered into a conditional share sale agreement (“SSA”) with EPF for the disposal of:

(i)     3,440,400 ordinary shares of RM1.00 each in Kesturi, a wholly-owned subsidiary of Nuzen; and

(ii)     18,000,000 redeemable preference shares of RM1.00 each in Kesturi,

which represents 40% of the issued and paid-up share capital of Kesturi, for a total cash consideration of RM1,130.0 million, subject to the terms and conditions contained in the SSA.

In addition to the above, on behalf of the Board, CIMB, Astramina and AmInvestment wishes to announce that the Company proposes to undertake the following:

(i)     proposed share split involving the subdivision of every two (2) existing ordinary shares of RM0.50 each into five (5) ordinary shares of RM0.20 each in Ekovest held on an entitlement date to be determined and announced later (“Proposed Share Split”); and

(ii)     proposed amendments to the Company’s Memorandum and Articles of Association to facilitate the implementation of the Proposed Share Split (“Proposed Amendments”).

Please refer to the attachment for the full text on the announcement of the Proposals.

This announcement is dated 8 November 2016.