The Board of Directors of NETX Holdings Berhad (“NETX” or “the Company”) wishes to announce that First United Technology Ltd (“FUTL”), a subsidiary of the Company, had performed the following transactions : 

i) On 7 December 2020, disposed 1,000,000 ordinary shares in MLabs Systems Berhad (“MLabs”) for the total consideration of RM119,238 to the open market (“Disposal of Shares”). 

ii) On 8 December 2020, subscribed 52,138,500 new ordinary shares with 30,414,125 free Warrants C of MLabs for the total consideration of RM4,692,465 (“Subscription Consideration”) in cash via the subscription of the rights shares of MLabs at an issue price of RM0.09 each, representing 5.92% of the enlarged share capital in MLabs (“Subscription”). 

iii) On 14 December 2020, disposed 30,414,125 Warrants C of MLabs for the total consideration of RM756,082 to the open market (“Disposal of Warrants”)

(collectively referred to as the “Transactions”) 

Further details of the Transactions are set out in the attachment herein.

This announcement is dated 15 December 2020.