Reference is made to the Company’s announcements from 1 December 2014 to 12 August 2022 pursuant to Practice Note 17 of the Main Market Listing Requirements (“MMLR”) (“PN17”) of Bursa Malaysia Securities Berhad ("Bursa Securities”).

The Board of Directors of MPCB ("Board”) wishes to announce that the Company had on 17 August 2022 entered into a memorandum of understanding (“MOU”) with Windsor Aims Machinery Sdn. Bhd. (“Windsor Aims”) to negotiate in good faith with a view of entering into a Joint Collaboration Agreement (“JCA”) or any other agreements for the implementation of the Proposed Regularisation Plan (as defined herein).

The proposed regularisation plan would involve, inter-alia, proposed capital reduction, proposed debt equity conversion; proposed shares issuance and proposed rights issue (“Proposed Regularisation Plan”).

Further details of the announcement are set out in the attachement below. 

This announcement is dated 17 August 2022.