The Board of Directors of PESTECH International Berhad (“PIB” or “the Company”) had on 4 December 2020, received a notification from Mr. Lim Pay Chuan (“Mr. Lim”) pursuant to Sections 219 and 137 of the Companies Act 2016, that he had exercised a dealing pursuant to a Term Sheet on Structured Rebate Forward (“Term Sheet“) with Kenanga Investment Bank Berhad (“KIBB”), whereby Mr. Lim has placed 5,000,000 ordinary shares (“Shares”) held in PIB with KIBB at a forward price and protection price that are mutually agreed by both parties.  Mr. Lim has the right to repurchase the Shares from KIBB at the expiry date, subject to such terms and conditions as stipulated in the Term Sheet.

As at the date of entry into the Agreement, and prior to the transaction, Mr. Lim retains an interest of 158,985,096 (20.887%) shares through his direct interest and 1,306,064 (0.172%) shares through his indirect interest.

The Term Sheet shall expire on 24 September 2021.

This announcement is dated 4 December 2020.