Reference is made to the Company’s announcements made on 22 November 2018, 3 April 2019 and 13 June 2019.

The Board of Directors of Hua-An wishes to announce that the Company had on 2 December 2019 entered into the following agreements:

(A) Deed of Revocations to rescind and revoke the following agreements which were executed on 3 April 2019: 

1. Subscription Agreement for the proposed subscription of 25,628 new ordinary shares in TPI, representing 20.4% of the entire enlarged issued, fully diluted and paid up share capital of TPI at a total cash consideration of RM4.0 million;
    
2. Share Purchase Agreement for the proposed acquisition of 38,442 ordinary shares, representing 30.6% of the entire enlarged issued, fully diluted and paid up share capital of TPI (after the enlarged share capital of TPI pursuant to the SA) at a total cash consideration of RM6.0 million; and
    
3. Shareholders’ Agreement to govern the rights, liabilities and obligations of the shareholders vis-à-vis each other in relation to the management and operation of TPI.

(B) Share Purchase Agreement for the proposed acquisition of 100,000 ordinary shares in TPI, representing the entire equity interest in TPI, for a total purchase consideration of RM36.0 million.

Please refer to the attachment for details of the announcement.

This announcement is dated 2 December 2019.