Sunzen wishes to announce that the Company had on 6 May 2024 executed a non-binding Term Sheet with Mr. Lee Peng Hwa and Madam Lay Lee Chin (collectively referred to as “the Vendors”) in relation to a proposed acquisition of seventy thousand (70,000) ordinary shares, representing seventy percent (70%) of the equity interest of Eye Nation Medical Sdn. Bhd. [Registration No. 200301031140 (633561-V)] (“the Target Company”) with a proposed purchase price of Ringgit Malaysia Six Million Three Hundred and Seventy Thousand (RM6,370,000.00) ("the Proposed Acquisition”).


The Proposed Acquisition is in the process of negotiation and subjected to the terms to be finalised and/or further terms and conditions, where applicable, to be incorporated in the Share Sale Agreement and upon completion of the due diligence to be conducted on the Target Company.


A refundable deposit for the amount of Ringgit Malaysia One Hundred Twenty Seven Thousand and Four Hundred (RM127,400.00), representing two percent (2%) of the proposed purchase price will be deposited to the Vendors’ solicitors, as stakeholder, for the commencement of due diligence exercise.


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


Further announcement(s) will be made in due course or upon finalisation and execution of the Share Sale Agreement.


This announcement is dated 6 May 2024.