Reference is made to the announcement dated 2 July 2022 (“Announcement”) in relation to Lagenda Mersing Sdn Bhd (“LMSB”), a 70% subsidiary of the Company which had on the same day entered into 3 conditional sale and purchase agreements (“SPAs”) with Sunrise Mersing Sdn Bhd (“SMSB”), an indirect wholly-owned subsidiary of UEM Sunrise Berhad whereby SMSB agreed to sell and LMSB agreed to purchase three (3) parcels of freehold agriculture land held under H.S.(D) 2249 PTD 10944, H.S.(D) 2251 PTD 10946 and H.S.(D) 2252 PTD 10947, all under Mukim Mersing, Daerah Mersing, Johor measuring approximately 431.09 Acres for a total consideration of RM45,068,918.40 or at RM2.40 per square feet. Unless otherwise defined, the definitions set out in the Announcement shall apply herein.

The Board of Directors of Lagenda wishes to announce that the Company has paid the Balance Purchase Consideration amounting to RM40,562,026.55 and Vendor’s Solicitor has confirmed receipt of the same on 25 August 2022. In this respect, the Acquisition will be deemed completed on 25 August 2022 as per Clause 4.1 of the three (3) SPAs signed.

This announcement is dated 25 August 2022.