HEADS OF AGREEMENT ENTERED INTO BETWEEN ANCOM LOGISTICS BERHAD AND ANCOM NYLEX BERHAD WITH GREENHEART SDN BHD, CHOONG WEE KEONG AND HOW YOON FOR

We refer to your Company’s announcement dated 22 April 2024 (“Announcement”), in respect of the aforesaid matter. Unless otherwise stated, the terms used herein shall have the same meaning as those defined in the Announcement.
In this connection, kindly furnish Bursa Securities with the following additional information for public release:-

1) The basis of arriving at the Agreed Price for the Proposed Acquisition, other than on a “willing buyer willing seller” basis.
2) The basis of determining the issue price of RM0.12 per Share for the new ALB Shares to be issued pursuant to the Proposed Acquisition and Proposed Private Placement. 
3) The weighted average market price for ALB Shares for the 5 market days before the date on which the terms of HOA were agreed upon. 
4) A statement as to whether the profit guarantee provided by the Vendors is realistic, taking into consideration the historical performance and future prospects of GLTSB. 
5) The particulars of all liabilities, including contingent liabilities and guarantees to be assumed by ALB arising from the Proposed Acquisition.

6) The net profits and net asset value of GLTSB based on its latest audited financial statements. In this regard, to specify the relevant financial year. 
7) The prospects of GLTSB. 
8) The names of GSB’s directors and substantial shareholders together with their respective direct and/or indirect shareholdings. 
9) The rationale for and risks in relation to the Proposals.
10) The highest percentage ratio applicable to the Proposed Acquisition pursuant to Rule 10.02(g) of the ACE Market Listing Requirements (“ACE LR”) based on the terms set out in the HOA. If relevant, to announce additional information as prescribed under Part A, item 17, and Part G or Part H of Appendix 10A of the ACE LR.

11) Additional information as prescribed under Appendix 10C of the ACE LR.

Please furnish Bursa Securities with your reply within one (1) market day from the date hereof.

Yours faithfully,
Listing, 
Regulation

Cc : Market Surveillance Dept. , Securities Commission