On behalf of the board of directors of VSTECS ("Board"), SCS Global Advisory (M) Sdn Bhd ("SCS Global Advisory") wishes to announce that the Company had, on 1 September 2026, together with Alvin Yuen Tai Keng, Lim Fun Jin, Yong Keong Tuck and Tan Wai Ho (collectively known as the "Management Sellers"), entered into a share purchase agreement ("SPA") with Skyform Pte Ltd ("Skyform" or the "Purchaser") for the disposal of an aggregate of 437,500 ISATEC Shares, representing 75.00% equity interest in ISATEC for an aggregate cash consideration of RM91,409,150.00 ("Initial Consideration") to Skyform.
Pursuant to the SPA, the Company is disposing of 233,334 ISATEC Shares, representing 40.00% equity interest in ISATEC, being the Company's entire equity interest in ISATEC, for the Disposal Consideration of RM48,751,685.97, while the Management Sellers are collectively disposing of 204,166 ISATEC Shares, representing 35.00% equity interest in ISATEC for a cash consideration of RM42,657,464.03.
Upon completion of the Proposed Disposal, the Company will cease to hold any equity interest in ISATEC and ISATEC will cease to be an associate company of the Company.
Please refer to the attachment for further details of the Proposed Disposal.
This announcement is dated 1 September 2026.