Reference is made to the announcements of Kerjaya Prospek Property Berhad ("KPPROP" or the "Company") dated 9 August 2019, 2 October 2019, 16 October 2019, 15 November 2019, 29 November 2019 and 10 January 2020 in relation to, among others, the acquisition of the entire equity interest of Kerjaya Property Sdn Bhd (formerly known as Kerjaya Prospek Property Sdn Bhd) and Kerjaya Hotel Sdn Bhd, which was partly satisfied via the issuance of 3,168,054,651 redeemable convertible preferences shares (“KPPROP RCPS” or “RCPS”) at an issue price of RM0.17 (“Issue Price”) each amounting to an aggregate of RM538.57 million to Javawana Sdn Bhd (“Javawana”). As at 9 December 2024, a total of 1,718,054,651 KPPROP RCPS remains outstanding (“Outstanding RCPS”).

The Board of Directors (“Board”) of KPPROP wishes to announce that KPPROP has on 9 December 2024 (“RND”) issued a redemption notice to Javawana to redeem the Outstanding RCPS on 9 January 2025 for a redemption sum of RM292.07 million at RM0.17 for each KPPROP RCPS (“Redemption Amount”) (“Redemption”).

Details of the Redemption is set out in the attached file.

This announcement is dated 12 December 2024