Reference is made to the Company’s first announcement dated 6 January 2020 in relation to the Company being classified as an affected listed corporation pursuant to Rule 8.03A of the Listing Requirements (“First Announcement”) and the subsequent announcements dated 3 February 2020, 2 March 2020, 1 April 2020, 4 May 2020, 1 June 2020, 1 July 2020, 3 August 2020, 1 September 2020, 1 October 2020, 2 November 2020, 1 December 2020, 4 January 2021, 2 February 2021, 1 March 2021, 1 April 2021, 3 May 2021, 1 June 2021, 1 July 2021, 2 August 2021, 1 September 2021, 1 October 2021, 1 November 2021, 1 December 2021, 24 December 2021, 3 January 2022, 4 January 2022, 28 January 2022, 3 February 2022 and 1 March 2022.

On behalf of the Board of Directors of DGSB, M & A Securities Sdn Bhd wishes to announce that at an Extraordinary General Meeting (“EGM”) held on 31 March 2022, the shareholders of DGSB have approved the following proposals:

(i)      the proposed acquisition by DGSB of:

(a)     51.0% equity interest in Excel Commerce Solutions Sdn Bhd from Thomas Lu Khin Phin for a cash consideration of RM4,590,000; and

(b)     51.0% equity interest in Finther Tecnologica Sdn Bhd from Faizal Bin Bahadon and Chan Ming Chong for a cash consideration of RM7,650,000;

(ii)     the proposed disposal by DGSB of 70.0% equity interest in QBI Packaging Sdn Bhd and 70.0% equity interest in Makan Channel Sdn Bhd to Insas Technology Berhad for a total cash consideration of RM3,500,000; and

(iii)    the proposed change of name from DGSB to DivFex Berhad.

(Collectively, referred to as “Proposals”).

The Proposals are expected to be completed within 14 days from the date of the EGM.

Apart from the above, the Board of DGSB is actively working towards the strengthening of the financial position and financial performance of the DGSB Group in order to regularise the Company’s status, and the Board is cautiously optimistic the Company will be able to submit a regularisation plan to Bursa Securities for consideration and approval before the extended dateline on 6 July 2022 as approved by Bursa Securities. The Company will make further announcement in relation to any new development in accordance with the requirements under Rule 8.03A of the Listing Requirements in due course.

This announcement is dated 1 April 2022.