T7 GLOBAL BERHAD ("T7" OR THE "COMPANY")

PROPOSED ACQUISITION BY T7 GASTEC SDN BHD ("T7 GASTEC" OR THE "PURCHASER"), A WHOLLY-OWNED SUBSIDIARY OF T7, OF 490,000 ORDINARY SHARES OF T7 WENMAX SDN. BHD. ("T7 WENMAX"), REPRESENTING 49.0% EQUITY INTEREST IN T7 WENMAX, FOR A PURCHASE CONSIDERATION OF RM39,200,000 TO BE SATISFIED ENTIRELY VIA CASH 

("PROPOSED ACQUISITION")

We refer to T7’s announcement dated 22 September 2020 in respect of the aforesaid matter.

In this connection, kindly furnish Bursa Securities with the following additional information for public release:

1) The commencement date of T7 Wenmax’s business operation.

2) The basis of arriving at the purchase consideration of RM39.2 million, or basis of arriving at the PE Multiple of 7.72       times.

3) To state whether the PE Multiple of 7.72 times has been adjusted for the non-marketability and non-tradability of T7       Wenmax.

4) To also compare the PE Multiple of 7.72 times against the PE of Comparable Companies, conclude on the                     comparison (including whether fair and reasonable) and to state the justifications for such conclusion.

5) The basis of arriving at the 25% discount for non-marketability and non-tradability.

6) To also discuss on the higher price per share paid for  the remaining 49% in T7 Wenmax as compared to the earlier       acquisition of 51% in T7 Wenmax.

7) The details of the obligation and liabilities in and arising from, pursuant to or in connection with the SSA for the              Proposed Acquisition to be assumed by T7 Group.

8) To discuss on the business, operational and industry risks of T7 Wenmax in view of a greater exposure to and               reliance on T7 Wenmax, and the mitigating measures.

9) To tabulate the effects of the Proposed Acquisition on net asset per share and gearing including appropriate                   assumption on the source of funding for the purchase consideration.

Please furnish Bursa Securities with your reply within one (1) market day from the date hereof.

Yours faithfully

Listing

Regulation

cc : Market Surveillance Dept., Securities Commission (via fax)