The Board of Directors of Iqzan Holding Berhad (“Iqzan” or “Company”) wishes to announce that Cal-Test Laboratory Sdn. Bhd. [Registration No. 200001020789 (523396-U)] (“Cal-Test” or “Purchaser”), a wholly-owned subsidiary of the Company, had on 30 April 2024 entered into a Conditional Share Sale Agreement (“CSSA”) with Kacon Asset Group Sdn. Bhd. [Registration No. 202201005445 (1451142-U)] (“Vendor”), for the purchase of 70% of the total issued and paid-up share capital of Kacon Construction Sdn. Bhd. [Registration No. 202001030349 (1386669-M)] (“KCSB”) from the Vendor (“Proposed Acquisition”), of which the acquisition’s consideration of RM1,000,000.00 would be settled by way of an allotment of 5,000 Redeemable Convertible Preference Shares (“RCPS”) by Cal-Test to the Vendor at an issue price of RM200.00 per RCPS, subject to the terms and conditions of the CSSA to be entered into by the parties in relation to the Proposed Acquisition.

Please refer to the attached document for further details.

This announcement is dated 30 April 2024.