The Board of Directors (“Board”) of Glomac Berhad wishes to announce that on 22 November 2019, Glomac Alliance Sdn Bhd (“GASB” or “the Vendor”), a wholly owned subsidiary of Glomac Berhad, has entered into a Sale and Purchase Agreement with Glomac Al Batha Sdn Bhd (“GABSB” or “the Purchaser”), a 51% subsidiary of Glomac for the disposal of vacant land held under Individual Title H.S.(D) 319254 PT 2914, Pekan Desa Puchong, District of Petaling, State of Selangor measuring approximately 6.213 hectares in area for a total cash consideration of RM127,042,740.00 (Ringgit Malaysia: One Hundred Twenty-Seven Million Forty-Two Thousand Seven Hundred and Forty) only (“Proposed Disposal”).

The land is purchased by GABSB with the intention for future mixed development.

Please refer to the attachment for further details of the Proposed Disposal.

This announcement is dated 22 November 2019.