On behalf of the Board of Directors of George Kent (“Board”), TA Securities Holdings Berhad (“TA Securities”) wishes to announce the following: -

(i)  Johan Holdings Berhad (“Johan”) had vide a letter of offer dated 29 March 2021 (“Letter of Offer”) invited the Company to subscribe for 40.0% equity interest in Dynacare Sdn Bhd (“Dynacare”), a wholly-owned subsidiary of Johan, at an issue price of RM1.00 per ordinary share. The intended equity to be contributed by the shareholders of Dynacare is RM100,000,000 (“Proposed Subscription”);

(ii)  proposed right to execute the works from Dynacare for the construction of a manufacturing plant for the manufacturing of gloves including other protective equipment and related products (“Glove Business”) (“Glove Manufacturing Plant”) for an expected period of twenty-four (24) months or such extended period as may be provided under the contract for a global contract sum of approximately RM624,100,000 excluding Sales and Service Tax ("Proposed Right to Execute the Works"); and

(iii)  proposed diversification of the existing business activities of George Kent and its subsidiaries ("George Kent Group" or "Group") to include the Glove Business, pharmaceutical and medical products and devices and services as well as related upstream and downstream activities ("Proposed Diversification").

The Proposed Subscription, Proposed Right to Execute the Works and Proposed Diversification are collectively referred to as the "Proposals".

Please refer to the attachment for the full details of the Proposals.

This announcement is dated 29 March 2021.