The Board of Directors of Brem Holding ("Board") wishes to announce that the Company has today received a letter from its major shareholders, Brem Properties Sdn Bhd and Tan Sri Dato’ Khoo Chai Kaa (collectively, the "Non-Entitled Shareholders"), notifying the Board of the Non-Entitled Shareholders' intention to privatise Brem Holding by way of a selective capital reduction and repayment exercise pursuant to Section 116 of the Companies Act 2016 ("SCR Offer Letter").

The Proposed SCR entails a selective capital reduction and a corresponding capital repayment of a cash amount of RM1.20 per ordinary share in Brem Holding held by all the shareholders of Brem Holding (other than the Non-Entitled Shareholders), whose names appear in the Record of Depositors of Brem Holding as at the close of business on an entitlement date to be determined and announced later by the Board.

The Board (save for the interested directors), will deliberate on the Proposed SCR and decide on the next course of action. Accordingly, a further announcement will be made in due course after the Board's (save for the interested directors) deliberation.

Please refer to the SCR Offer Letter attached herewith for further details on the Proposed SCR.

This announcement is dated 26 November 2021.