Unless otherwise defined, the definitions used in this announcement shall have the same meaning as those defined in the previous announcements and the circular dated 10 November 2023 in relation to the Listing.

On behalf of the Board, M&A Securities wishes to announce that MKHOP had on 29 March 2024 issued its Prospectus in relation to the Listing.

It should be noted that the IPO price of RM0.62 represents a discount of approximately 48.8% to the issue price for the Acquisition of PT MKH and Acquisition of PT SPS of RM1.21 per MKHOP Share. The said issue price of RM1.21 per MKHOP Share was derived based on the revalued NA per MKHOP Share after accounting for the revaluation of MKHOP Group’s plantation assets, with a discount of approximately 10.8%.

Based on the issue price of RM1.21 per MKHOP Share for the Acquisition of PT MKH and Acquisition of PT SPS, the pro forma NA per MKHOP Share as at 30 September 2023 is RM0.55, after accounting for the Pre-IPO Reorganisation, IPO and utilisation of proceeds.  This pro forma NA per MKHOP Share of RM0.55 represents a dilution (as a percentage of the said issue price of RM1.21) of approximately 54.5%. On the contrary, the IPO price of RM0.62 was determined based on a combination of factors as set out in the Prospectus, which include other considerations such as the earnings of MKHOP Group.

Please refer to MKHOP’s Prospectus dated 29 March 2024 in relation to the Listing for further details. The Prospectus can be viewed or downloaded from Bursa Securities’ website at https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3434498.

This announcement is dated 29 March 2024.