The Board of Directors of Mintye (“Board”) wishes to announce that the Company has today received a letter from its controlling shareholder, Yatee & Sons Sdn Bhd (“Yatee” or “Offeror”), requesting the Company to undertake a selective capital reduction and repayment exercise pursuant to Section 116 of the Companies Act 2016 ("SCR Offer Letter").

The Proposed SCR entails a selective capital reduction and a corresponding capital repayment of a proposed cash amount of RM1.30 for each ordinary share in Mintye held by all the shareholders of Mintye (other than Yatee and the persons acting in concert with them) whose names appear in the Record of Depositors of Mintye as at the close of business on an entitlement date to be determined and announced later by the Board.

The Board, save for Yeo Kim Swee and Yeo Kim Soon who are deemed interested in the Proposed SCR, will deliberate on the Proposed SCR and decide on the next course of action. Accordingly, a further announcement will be made in due course after the Board's deliberation.

Please refer to the SCR Offer Letter for further details on the Proposed SCR.

This announcement is dated 19 August 2019.