Unless otherwise defined herein, all terms and acronyms used herein shall be the same as those defined in the Company’s previous announcements dated 18 November 2021 onwards in relation to default in payment of Thai Bonds and the loan facilities granted by TransAsia Private Capital Limited and Danos Limited (“TA/Danos”) and the loan facilities granted by Bank of China (Malaysia) Berhad (“BOC”).

Reference is made to the previous announcements dated 18 November 2021, 22 November 2021, 6 December 2021, 10 December 2021, 16 December 2021, 21 December 2021, 29 December 2021, 28 January 2022, 1 March 2022, 1 April 2022, 29 April 2022, 1 June 2022, 1 July 2022, 1 August 2022, 1 September 2022, 30 September 2022, 1 November 2022, 1 December 2022, 27 December 2022, 3 January 2023, 1 February 2023, 1 March 2023, 3 April 2023 and 2 May 2023.

The Board of Directors of KNM Group Berhad (the “Company" or "KNMG”) wishes to announce that CGIF, TA/Danos and majority of the lenders (including BOC) are still working in close cooperation with the Board of Directors and KNMG GCEO, Mr Ravi Balasingham towards achieving a mutually acceptable resolution of the settlement of the monies due to the respective lenders from the monetization of non-core assets and IPO/Sale of Borsig GmbH, as previously announced.

The Company’s stated plan to monetize the assets will be accelerated under a disposal process based on non-exclusive deal structure, which will also naturally lead to higher cash values on disposal.

KNMG has been in continuous close discussion with the respective lenders on various measures to address the abovementioned events of default. The repayments will be dealt with, addressed and/or restructured under the Proposed Scheme of Arrangement as announced on 16 December 2022.

The Company will make the necessary announcement to Bursa Malaysia Securities Berhad as and when there is any material development in relation thereto.

This announcement is dated 1 June 2023.