On behalf of the Board of Directors of WMSC, Kenanga Investment Bank Berhad ("Kenanga IB") wishes to announce that the Company proposes to undertake the following:

1. proposed disposal of its 25% equity interest in Willowglen (Malaysia) Sdn. Bhd. ("WMSB") for a cash consideration of RM10.0 million ("Proposed WMSB Disposal"), together with Proposed Call and Put Option (as defined in the announcement) on the remaining 75% equity interest in WMSB at an exercise price of RM30.0 million;

    

2. proposed disposal of its 100% equity interest in Willowglen Services Pte. Ltd. for a consideration of RM175.2 million to be satisfied via a combination of cash of RM72.0 million and issuance of new ordinary shares in Elixir II Pte. Ltd. ("Elixir II") of RM103.2 million ("Proposed WSPL Disposal");

    

3. proposed provision of financial assistance to Elixir II, which will be an associated company of the Company upon completion of the Proposed WMSB Disposal and Proposed WSPL Disposal ("Proposed Provision of Financial Assistance"); and

    

4. proposed change of name from Willowglen MSC Berhad to Willownex Berhad ("Proposed Change of Name").

Further details of the Proposals are set out in the attachment below.
 

This announcement is dated 1 April 2026.