On behalf of the Board of Directors of DGSB, M & A Securities Sdn Bhd is pleased to announce that the Company had on 4 January 2022 entered into the following agreements:

(i)     a conditional share sale and purchase agreement (“SSA-1”) to acquire 510,000 ordinary shares representing 51.0% equity interest in Excel Commence Solutions Sdn Bhd from              Thomas Lu Khin Phin for a cash consideration of RM4,590,000 (“Proposed Excel Acquisition”);

(ii)    a conditional share sale and purchase agreement (“SSA-2”) to acquire 255,000 ordinary shares representing 51.0% equity interest in Finther Tecnologica Sdn Bhd from the Faizal          bin Bahadon and Chan Ming Chong for a total cash consideration of RM7,650,000 (“Proposed Finther Acquisition”);

(The Proposed Excel Acquisition and Proposed Finther Acquisition are collectively referred to as “Proposed Acquisitions”, the Excel Vendor and Finther Vendors are collectively referred to as “Vendors”); and

(iii)   a conditional share sale and purchase agreement (“Disposal SSA”) to dispose of its entire 70% equity interest in QBI Packaging Sdn Bhd and Makan Channel Sdn Bhd to Insas            Technology Berhad for a total cash consideration of RM3,500,000 (“Proposed Disposal”).

Kindly refer to the attachment for further details on the Proposals.

This announcement is dated 4 January 2022.