(Unless otherwise stated, all definitions and terms used in this announcement shall have the same meaning as defined in the Company’s announcements dated 28 March 2022, 25 May 2022 and 29 November 2022).

Reference is made to the Company’s announcements dated 28 March 2022, 25 May 2022 and 29 November 2022 in relation to amongst others, the Proposals.

On behalf of the Board, Astramina Advisory wishes to announce that the Company had on 20 February 2023 entered into an amended and restated debt settlement and share subscription agreement with the Directors of LSH Ventures, Vendors of LSH Ventures, LSH Ventures and LSH Resources to vary, amend, modify or alter certain provisions, terms and conditions of the DSCSSA (“Amended and Restated DSCSSA”) which forms part of the revised proposals as follows:-

(i)   Proposed Acquisition of ASSB for a total Purchase Consideration of ASSB of RM95.00 million to be fully satisfied via the issuance of 211,111,111 Consideration Shares of ASSB;

(ii)  Proposed Acquisition of LSH Ventures for a total Purchase Consideration of LSH Ventures of RM25.70 million to be fully satisfied via the issuance of 57,109,037 Consideration Shares of LSH Ventures;

(iii) Proposed Debt Settlement by the Company with the Directors of LSH Ventures for a total settlement sum of RM36.94 million to be fully satisfied via the issuance of 82,094,767 Settlement Shares; and

(iv) Proposed Diversification (Property Development).

(Item (i), (ii), (iii) and (iv) are collectively referred to as the “Revised Proposals”)

Kindly refer to the announcement for further details of the Amended and Restated DSCSSA and the Revised Proposals.

This announcement is dated 20 February 2023.