The Board of Directors of Menang wishes to announce that the Company had on 17 April 2024 entered into the following agreements:

1. Shareholders’ Agreement between Alpro Alliance Sdn. Bhd. [Registration No. 201201030969 (1015456-V)] and the Company for the acquisition of 4,000,000 ordinary shares, equivalent to 20% of the issued share capital of the joint venture company, namely Alpro Menang Ventures Sdn. Bhd. [Registration No. 202401004845 (1550695-M)] (“AMV”), for a cash consideration of RM4,000,000.00. AMV is an investment holding company for the purpose of venturing into the healthcare and wellness business in the thriving Indonesia market; and
2. Preference Share Subscription Agreement for the subscription of up to 30,000,000 Non-Convertible Redeemable Preference Shares for a total consideration of up to RM30,000,000.00 in AMV.

(collectively referred to as the “the Investment”)

Further details of the Investment is attached.

This announcement is dated 17 April 2024.