The Board of Directors of KNM ("Board") wishes to announce that on 4 August 2022, the Company had announced on Bursa Malaysia Securities Berhad ("Bursa Securities") the Notice of Extraordinary General Meeting (“EGM”) to be conducted via online meeting platform at https://meeting.boardroomlimited.my (Domain Registration No. with MYNIC-D6A357657) provided by Boardroom Share Registrars Sdn Bhd on Monday, 22 August 2022 at 10.00 a.m. for the proposed disposal of 15 shares in Borsig GmbH ("Borsig"), representing the entire equity interest in Borsig, by Deutsche KNM GmbH ("DKNM"), a wholly-owned indirect subsidiary of the Company, to GPR Siebzigste Verwaltungsgesellschaft mbH (now known as Vorsprung Industries GmbH) ("GSV") for a total disposal consideration of EUR220,800,000 ("Proposed Disposal"). 

GSV has requested further amendments and modifications of certain terms and conditions of the Sale, Purchase and Transfer Agreement that was entered into between DKNM and GSV on 23 May 2022 and amended pursuant to an amendment agreement on 21 July 2022, to accommodate the financing structure of GSV which is being finalised. DKNM and GSV are currently finalising a new amendment agreement which will be announced once it is signed by DKNM and GSV within two weeks from this announcement. For information purposes, there is no variation to the total disposal consideration of EUR220,800,000.

Accordingly, the Board has taken the decision to postpone the EGM until further notice. The Company will announce the amended Notice of EGM when it is confirmed in accordance with the Main Market Listing Requirements of Bursa Securities.

Shareholders of the Company are advised to check for any further update(s) in relation to the EGM that will be announced by the Company on Bursa Securities.

This announcement is dated 19 August 2022