(Unless otherwise defined, defined terms used in this announcement shall carry the same meaning as defined in the announcements dated 17 April 2024, 22 April 2024 and 26 April 2024) in relation to the Proposed Private Placement (“Announcements”)).

On behalf of the Board, MIDF Investment wishes to announce that Bursa Securities had, vide its letter dated 6 May 2024, approved the listing of and quotation of up to 10,122,520 new HeiTech Shares to be issued pursuant to the Proposed Private Placement.

The approval by Bursa Securities is subject to the following conditions:

(i)    MIDF Investment to furnish Bursa Securities with details of the proposed placee(s) as per Paragraph 6.15 of the Listing Requirements for Bursa Securities’ clearance, prior to the issuance/allotment of the Placement Shares;

(ii)    HeiTech is required to make quarterly updates via Bursa LINK (simultaneous with the submission of HeiTech’s quarterly report) on the followings:

       (a)   The status of each of the event or purpose for which the total proceeds raised from the Proposed Private Placement are utilised for i.e., the working capital for payment of  each category of staff salaries, office administrative, utilities and overhead expenses as well as payment to suppliers and creditors;

       (b)    Where relevant, details on where the balance of proceeds raised is being placed (pending utilisation). If it is parked with asset management company / fund manager, to  disclose the name of the asset management company / fund manager; and

       (c)    The summary of Placement Shares issued and allotted as follows:

               a.   Date of price fixing and issuance date of Placement Shares (each tranche).

               b.   Quantity of Placement Shares issued and allotted.

               c.   Issue price and basis in arriving at (each tranche).

               d.   Aggregate number of Placement Shares issued and allotted as at the end of each quarter.

(iii)    HeiTech to furnish a certified true copy of the resolution passed by the shareholders for a general mandate under Sections 75 and 76 of the Act at the Company’s forthcoming  AGM;

(iv)    MIDF Investment and HeiTech must fully comply with the relevant provisions under the Listing Requirements pertaining to the implementation of the Proposed Private Placement;

(v)     MIDF Investment to inform Bursa Securities upon the completion of the Proposed Private Placement;

(vi)    MIDF Investment to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities’ approval once the Proposed Private Placement is completed; and

(vii)   Payment of additional listing fee, if any, based on the final issue price together with a copy of the details of the computation of the amount of listing fees payable.

This announcement is dated 7 May 2024.