On behalf of the Board of Directors of OCK ("Board"), UOB Kay Hian Securities (M) Sdn Bhd ("UOBKH") wishes to announce that the Company had on 10 December 2024 entered into a conditional investment agreement with Zelestra Corporacion, S.A.U ("Zelestra") and Solarpack Asia Sdn Bhd ("SPK Asia") in relation to an investment in SPK Asia ("Proposed Investment") and the novation in favour of OCK (or its nominated entity within the OCK Group) of a loan granted by Zelestra to JKH Renewables Sdn Bhd (the "Investment Agreement" and "JKH", respectively), based on an indicative enterprise value of RM350.00 million (subject to adjustments set out in Section 2.1 of the announcement). SPK Asia and JKH owns 49% and 51%, respectively, of the ordinary shares in Solarpack Suria Sungai Petani Sdn Bhd ("3SP"), the developer, owner and operator of the Solar Project.
Further details of the Proposed Investment are set out in the attachment enclosed.
This announcement is dated 10 December 2024.