LETTER OF DEMAND AGAINST BAHVEST RESOURCES BERHAD ("BAHVEST") AND ITS WHOLLY OWNED SUBSIDIARY, WULLERSDORF RESOURCES SDN BHD FOR THE SUM OF RM20,400,000 DUE AND OWING TO SOUTHSEA GOLD SDN BHD AND THE REMOVAL OF OPERATION AND/OR RELATED STRUCTURES OUT OF SOUTHSEA GOLD SDN BHD'S MINING LEASE LAND ("LETTER OF DEMAND")

We refer to your Company’s announcement dated 10 May 2023, in respect of the aforesaid matter.
In this connection, kindly furnish Bursa Securities with the following additional information for public release:-

1) Whether Wullersdorf Resources Sdn Bhd and Southsea Gold Sdn Bhd have entered into a written agreement in relation to the non-refundable deposit of RM13 million (“Non-Refundable Deposit”), and if yes, to disclose the terms of the agreement. 
2) The basis in arriving at the amount of the Non-Refundable Deposit of RM13 million.
3) The justification for the Non-Refundable Deposit.
4) The rationale for payment of the Non-Refundable Deposit for the parties to commence negotiations in relation to the Letter of Demand.
5) Whether the Non-Refundable Deposit is deductible against the full amount of RM20.4 million claimed by Southsea Gold Sdn Bhd under the Letter of Demand.

6) The amount to be paid under each tranche of the Non-Refundable Deposit and the respective timeframe for payment.
7) The source(s) of funding for the Non-Refundable Deposit and the breakdown thereof.

Please furnish Bursa Securities with your reply by 11 May 2023.

Yours faithfully,
Listing, 
Regulation

Cc : Market Surveillance Dept. , Securities Commission (via fax)