The Board of Directors of Solarvest (“the Board”) wishes to announce that Solarvest (Taiwan) Corporate Limited (“Solarvest (Taiwan)” or “Purchaser”), a wholly-owned subsidiary of Solarvest, had on 6 November 2020 entered into a Shares Sale Agreement (“SSA”) with Hsinking Co., Ltd. (“Hsinking” or “Vendor”) for the acquisition of 306,000 ordinary shares of Tailai, representing 51% of the entire equity interest in Tailai (“Sale Shares”) from the Vendor for a total purchase consideration of NT$3,060,000.00 (New Taiwan Dollar: Three Million Sixty Thousand) only (equivalent to approximately RM445,230.00) (“Purchase Consideration”) (“Proposed Acquisition”).

Further details of the above are set out in the attachment.

This announcement is dated 6 November 2020.