The Board of Directors of Carzo (“Board”) wishes to announce that the Company will undertake the following:
(i) diversification of the existing businesses of Carzo and its subsidiaries (“Carzo Group” or the “Group”) to include retail, distribution and wholesale of groceries and related business (“Grocery Business”) (“Diversification”); and
(ii) variation to the utilisation of proceeds raised from the investors (“Pre-Listing Proceeds”) prior to the listing of Carzo on the LEAP Market of Bursa Malaysia Securities Berhad (“Bursa Securities”) on 9 September 2021 (“Listing”) (“Variation”).

Please refer to the attachment for further details.

This announcement is dated 6 May 2022.