The Board of Directors of MAXWELL wishes to announce that the Company has on 6 September 2019 entered into an MOA with Mohd Faizol Bin Abdul Karim (“MFAK”) (“collectively referred to as “the Parties” and individually as “the Party”).

The Parties are desirous to enter into mutual discussions relating to a proposed regularization plan by MAXWELL which shall entail one or more of the following :-

(i)  Proposed investment and subscription of new ordinary shares worth approximately Ringgit Malaysia Forty Million (RM40,000,000/-) only by MFAK or a nominated fund by MFAK;

(ii)  Proposed Rights Issue of ordinary shares by MAXWELL;

(iii) Proposed disposal of non productive and inactive business operation of MAXWELL in order to raise cash for settlement of creditors and/or future business operation.

(collectively “the Proposal”).

Please refer to the attachment for details of the announcement.

This announcement is dated 6 September 2019.