The Board of Directors of IQZAN is pleased to announce that its wholly-owned subsidiary, Zoomic Technology (M) Sdn. Bhd. [Registration No. 199201003210 (234714-U)] (“Zoomic” or “Vendor”), has on 2 December 2022 entered into a Sale and Purchase Agreement (“SPA”) with FoundPac Technologies Sdn. Bhd. [Registration No. 201101011807 (939942-M)] (“FoundPac” or “Purchaser”) to dispose of two (2) adjoining lots of leasehold (for 60-year term expiring on 9 September 2051) industrial land identified as Lot 12370 (PN 5891) and Lot 12371 (PN 5867), both within Mukim 12, District of Barat Daya, State of Pulau Pinang, measuring a total land area of approximately 90,040 square feet (8,365 square metres) with a double-storey detached factory-cum-office erected thereon bearing postal address Plot No. 12 and 13, Hilir Sungai Keluang 3, Bayan Lepas Free Industrial Zone Phase 4, 11900 Bayan Lepas, Pulau Pinang (“Property”) to FoundPac at a purchase price of Ringgit Malaysia Twenty Five Million and Five Hundred Thousand only (RM25,500,000.00) (“Disposal Consideration”), subject to the terms and conditions as stipulated in the SPA (“Disposal of Property”).

Please refer to the attached document for further details.

This announcement is dated 2 December 2022.