Unless otherwise stated, all definitions and terms used in this announcement shall have the same meanings as defined in THHE’s announcement dated 13 March 2020.

Reference is made to the announcements dated 13 March 2020, 3 July 2020 and 28 August 2020 in relation to the MOU.

On behalf of the Board of Directors of THHE, Public Investment Bank Berhad wishes to announce that THHE and the Vendor, being the parties to the non-binding MOU, have mutually agreed in writing (“Mutual Agreement 2”) to the following:

(a)        to further extend the MOU Term to 13 December 2020 or such extended period as may be mutually agreed between the parties;

(b)        to extend the period for completion of THHE’s Due Diligence Exercise to 13 December 2020 or such extended period as may be mutually agreed between the parties; and

(c)        that the MOU is non-exclusive and the parties shall deal non-exclusively with each other.

Further, as detailed in the Mutual Agreement 2, ICE is undergoing an internal reorganisation. As such, the Proposed Acquisition may entail the acquisition of the ordinary shares in ICE or shares of any other subsidiary of the Vendor which is holding the business and assets.

Save for the above, all other terms, conditions and provisions contained in the MOU shall remain unchanged and continue to be in full force and effect.

At the current juncture, the parties are in the midst of discussing the structure of the Proposed Acquisition and the Company is still in the midst of completing the THHE’s Due Diligence Exercise. Save and except of the abovementioned, there is no other material development on the status of the MOU as of the date of this announcement.

A copy of the Mutual Agreement 2 dated 14 September 2020 is available for inspection at THHE’s registered office at Level 7, Menara Milenium, Jalan Damanlela, Pusat Bandar Damansara, Damansara Heights, 50490 Kuala Lumpur during normal office hours from Monday to Friday (except public holidays) for a period of 3 months from the date of this announcement.

This announcement is dated 14 September 2020.