The Board of Directors of Citaglobal (“Board”) wishes to announce that the Company had on 26 October 2023 entered into the following agreements:-

(i) a subscription agreement (“Subscription Agreement”) with IFactors to subscribe for 157,894 new ordinary shares in IFactors (“IFactors Shares”) (“Subscription Shares”), for a total subscription consideration of RM4,000,000 to be fully satisfied in cash (“Subscription Amount”) (“Proposed Subscription”); and

(ii) a share purchase agreement (“SPA”) with Abu Bakar Bin Sutan Taharudin (“Abu Bakar” or “Vendor”) for the acquisition of 789,475 IFactors Shares from the Vendor (“Sale Shares”), for a total purchase consideration of RM21,200,000 (“Purchase Consideration” or “Purchase Amount”) to be satisfied in the following manners:

(a) RM10,000,000 in cash; and

(b) RM11,200,000 via the issuance of 7,466,666 new ordinary shares in Citaglobal (“Citaglobal Shares” or “Shares”) (“Consideration Shares”) at an issue price of RM1.50 per Consideration Share (“Issue Price”) (“Proposed Acquisition”).

(Collectively, referred to as the “Proposals”)

Post completion of the Proposals, Citaglobal will hold 30% equity interest in IFactors, with the remaining 65.25% equity interest held by the Vendor and 4.75% equity interest held by Vivi Anah Binti Madzlan (“Vivi Anah”), being the existing shareholders of IFactors.

Please refer to the attachment for the details of the announcement.

This announcement is dated 26 October 2023.