The Board of Directors of Omesti Berhad (“the Company” or “Omesti”) wishes to announce that Formis Network Services Sdn Bhd (“FNS”), an indirect 51% owned subsidiary of the Company, has on 21 June 2022 received and accepted a Letter of Award ("LOA") from Tenaga Nasional Berhad ("TNB") for the “Leasing Of Personal Computers For Tenaga Nasional Berhad” project for a duration of three (3) years, commencing on 21 June 2022 at a total contract value of RM25,312,416.00 with no clause on renewal in the LOA (hereinafter referred to as “the TNB Contract”).

The TNB Contract is subject to a formal contract to be entered into between TNB and FNS.

The LOA will have no effect on the issued share capital and substantial shareholders’ shareholdings of the Company. The LOA is expected to contribute positively to the revenue, earnings per share and net assets per share of Omesti Group and is not expected to have a material effect on the gearing of Omesti Group for the financial year ending 31 March 2023 onwards until the expiry of the TNB Contract.

The Company does not foresee any exceptional risk other than operational risks associated with the LOA during the contract period.

None of the Directors and/or the major shareholders of the Company and/or persons connected with the Directors and/or major shareholders have any interest, direct or indirect in the LOA.

The Board of Directors of the Company is of the opinion that the acceptance of the LOA is in the best interest of Omesti Group.

This announcement is dated 22 June 2022.