1. Introduction

The Board of Directors of Uzma is pleased to announce that Uzma Nexus Sdn. Bhd. (“UNSB”), a related company of Uzma has been awarded with a Contract from Nextenaga Sdn. Bhd. (“Nextenaga”), a wholly-owned subsidiary of Nexuscorpgroup Sdn. Bhd. through Nextenaga’s Letter of Award dated 28 April 2022 (“Letter”) which was subsequently approved for announcement by Nextenaga on 9 May 2022.

Pursuant to the acceptance of the Contract, UNSB has appointed Suria Infiniti Sdn. Bhd. (“SISB”), another Uzma related company, to undertake the Works through UNSB’s Letter of Award dated 29 April 2022

2. Salient Terms

The salient terms of the Contract are as follows:-

(a) Engineering, Procurement, Construction and Commissioning of 29.99MWac and all associates works including Site preparation with Civil and structural, Architectural, DC solar system, Solar mounting structures, SPP AC system and interconnections, TNB interconnection and PMU extension works, Security system, Control building and all authorities’ requirements and compliance (“Works”).

(b) UNSB shall complete and handover the Works to Nextenaga by 31st December 2022 for Initial Operation Date (“IOD”) and Commercial Operation Date (“COD”) by 9th  March 2023 (“Contract Period”).

(c) Subject to the Contractor fulfilling the terms and conditions of the Project and completing the Scope of Works, the estimated contract value is Ringgit Malaysia One Hundred and One Million Eight Hundred and Twenty-Seven Thousand (RM101,827,000.00) only over the contract period.

3. Risk factors

Potential risk factors include project operational and execution risks, work schedules, delivery timelines and adverse weather conditions.

4. Financial effects

The Contract is expected to contribute positively towards the earnings and net assets per share of the Company for the financial year ending 30 June 2022 and onwards until the expiry of the Contract. It will not have any effect on the share capital and shareholding structure of the Company as it does not involve the issuance of ordinary shares in the Company.

5. Directors’ and Major Shareholders’ Interests

None of the Directors and/or major shareholders and/or persons connected with the Directors and/or major shareholders of Uzma has any direct or indirect interest in the Contract.

6. Directors’ Statement

The Board of Directors of the Company, after considering all the relevant factors, is of the opinion that the acceptance of the Letter of Award is in the best interest of the Company.

This announcement is dated 9 May 2022.