M & A Securities Sdn Bhd, on behalf of the Board of Directors of DGSB (“Board”) wishes to announce that the Company had on 23 November 2021 entered into non-binding term sheets with:

1.  Mr. Lu Khin Phin (“Thomas”) and Ms. Geh Kooi Hong (“Catherine”) for the proposed acquisition of 510,000 ordinary shares in Excel Commerce Solutions Sdn Bhd (“Excel”), representing 51.0% equity interest in Excel for a cash consideration of RM4,590,000 (“Term Sheet 1”); and

2.  Encik Faizal Bin Bahadon (“Faizal”) and Mr. Chan Ming Chong (“MC”) for the proposed acquisition of 255,000 ordinary shares in Finther Tecnologica Sdn Bhd (“Finther”), representing 51.0% equity interest in Finther for a cash consideration of RM7,650,000 (“Term Sheet 2”).

(Collectively, referred to as the “Term Sheets”)

The Term Sheets are non-binding and are subject to definitive sale and purchase agreements (“Definitive Agreements”) to be negotiated and executed by the parties to the Term Sheets.

Kindly refer to the attachment for further details.

This announcement is dated 24 November 2021.