1. INTRODUCTION

On behalf of Pharmaniaga Berhad (“the Company”), the Board of Directors wish to announce that Pristine Pharma Sdn Bhd (“PPSB”), a wholly-owned subsidiary of the Company, had on 25 March 2021 acquired a total 20,000 ordinary shares for a purchase consideration of RM1.00 representing 20% of the total issued and paid-up capital of Paradigm Industry Sdn Bhd (PISB”).

In consequent thereto, PISB shall become 100% owned subsidiary of PPSB.

2. INFORMATION

PISB was incorporated in Malaysia under Companies Act, 1965 on 25 July 2016. The present authorised share capital of PISB is RM100,000.00 divided into 100,000 ordinary shares RM1.00 each.

3. FINANCIAL EFFECTS

The Acquisition of Shares is to have better control of PISB for future business expansion and have no material effect on neither earnings per share nor net asset per shares of the Company for year ending 31 December 2021.

The proposed purchase consideration of RM1.00 shall be funded via internally generated fund.

4. DIRECTORS’ AND MAJOR SHAREHOLDERS’ AND/OR PERSONS CONNECTED WITH A DIRECTOR OR MAJOR SHAREHOLDER’S INTEREST

Other than via the Company, none of the Directors and /or major shareholders or persons connected to them had any interest, direct or indirect, in the aforesaid acquisition.

5. STATEMENT BY THE BOARD OF DIRECTORS

The Board of Directors is of the opinion that the Internal Reorganisation is in the best interest of the Company.

This announcement is dated 30 March 2021.