The Board of Directors of Bison Consolidated Berhad ("Bison") wishes to announce as follows:

Acquisition of Factory to be used as Sub-Distribution Centre (“Sub-DC”)

Bison Stores Sdn Bhd, a wholly owned subsidiary, has on 1 December 2016 executed a Sale and Purchase Agreement with Idea Harmoni Sdn Bhd (Co. No.: 646381-M) to purchase a factory in Johor Bharu for a cash consideration of Ringgit Malaysia: Four Million One Hundred Fifty Five Thousand Two Hundred (RM4,155,200) only inclusive of Goods & Services Tax of 6% (“GST”) or Ringgit Malaysia: Three Million Nine Hundred Twenty Thousand (RM3,920,000) only, excluding GST (“Acquisition”). The factory is intended to serve as a sub-distribution centre for all the Bison stores in the state of Johor and the purchase consideration is derived at on a "willing buyer willing seller" basis.

Information on the Sub-DC

The Sub-DC is a double storey semi-detached factory (corner unit) located at Johor Bharu bearing postal address No. 2 Jalan Ekoperniagaan 1/11, Taman Ekoperniagaan, 81100 Johor Bahru, Johor. It has a built-up area of 9,081 sq. ft. sitting on a freehold land measuring 26,550 sq. ft. The Sale and Purchase Agreement is expected to be completed in Q2 of Bison’s financial year ending 31 October 2017.

Rationale for the Acquisition

The Acquisition is one of the initiatives to improve and establish Bison’s nationwide logistics to support its growing network and product base as reported in Bison’s prospectus dated 4 March 2016 in conjunction with its recent initial public offering(“IPO”).

The purchase consideration for the Sub-DC and its set up costs are estimated to cost about Ringgit Malaysia: Five Million (RM5,000,000) only inclusive of GST and is to be funded by the IPO proceeds and internally generated funds.

Financial effect

The Acquisition has no effect on the issued and paid-up share capital of Bison or the substantial shareholders' shareholding. It is also not expected to have any material impact on the earnings, net assets and gearing of Bison for the financial year ending 31 October 2017.

Approval Requirement

The Acquisition does not require the approval of the shareholders of Bison or any other relevant regulatory authority.

Directors' and Major Shareholders' Interest

None of the Directors and/or major shareholders and/or persons connected to them have any interest, direct or indirect, in the Acquisition.

The Board of Directors of Bison is of the opinion that the Acquisition is in the best interest of Bison.

This announcement is dated 1 December 2016.