(Unless otherwise defined, the defined terms used in this announcement shall carry the same meaning as those defined in our announcement dated 6 September 2023 in relation to the MoU (“Announcement”)).

The Board of PHB wishes to announce that PISB had on 6 October 2023 entered into a Mutual Termination Agreement in respect of the MoU with CCH to mutually terminate the MoU in its entirety with immediate effect. The Parties were unable to agree on and finalise the terms and conditions of the Acquisition Agreement within the thirty (30) days’ period as stipulated in the MoU.

With effect from the date hereof, the MoU shall have no force or effect and neither Party will have any further rights or obligations under the MoU. The earnest deposit of RM165,000.00 only free of interest will be refunded to PISB within five (5) working days from the date hereof.

The termination of the MOU does not have any material effect on the earnings per share, net assets per share, gearing and share capital of the Company.

This announcement is dated 6 October 2023.