ADDITIONAL COMPLIANCE INFORMATION In compliance with the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the following information is provided: Utilisation of Proceeds from Corporate Proposals MSM Holdings had on 8 June 2021 entered into a Share Sale Agreement with FGV Integrated Farming Holdings Sdn Bhd for the disposal of the entire equity interest in MSM Perlis Sdn Bhd, a wholly-owned subsidiary of MSM Holdings for total consideration of RM181.11 million in cash, subject to the terms and conditions therein. The status of the utilisation of the proceeds from the disposal as at 31 December 2021 was as follows: Purpose Approved Utilisation RM’000 Actual Utilisation RM’000 Expected timeframe for utilisation upon receipt of the proceeds Prepayment of borrowings 100,000 100,000 within 3 months General capital expenditure 50,000 474 within 18 months General working capital1 30,206 30,206 within 6 months Estimated expenses for the Proposed Disposal 900 900 within 3 months Total1 181,106 131,106 Note: 1There is a variation or adjustment to the Final Disposal Consideration as a result of the adjustment of Completion Net Working Capital and Completion Net Debt as set out in Section 2.4.2 of Part A of the Circular to Shareholders dated 27 August 2021 has resulted in a RM24.96 million reduction to the amount allocated for general working capital. Non-Audit Fees The amount of non-audit fees rendered to the Group by its external auditors, PricewaterhouseCoopers PLT (PwC), for the financial year ended 31 December 2021 amounted to RM136,000. Material Contracts Save for those disclosed in the Financial Statements and below, there is no other material contract entered into by the Company or its subsidiaries either still subsisting at the financial year ended 31 December 2021 or entered into since the end of the previous financial year ended 31 December 2020. Share Sale Agreement dated 8 June 2021 between MSM Holdings and FGV Integrated Farming Holdings Sdn Bhd for the disposal of the entire equity interest in MSM Perlis Sdn Bhd, a wholly-owned subsidiary of MSM Holdings for total consideration of RM181.11 million in cash, subject to the terms and conditions therein. DISCLOSURE OF RECURRENT RELATED PARTYTRANSACTIONS OF REVENUE NATURE (RRPT) At the 10th Annual General Meeting (AGM) held on 17 June 2021, the Company had obtained a Shareholders’ mandate from its Shareholders for the existing Recurrent Related Party Transactions of revenue or trading nature for MSM and its subsidiary companies (MSM) and Shareholders’ mandate for the new Recurrent Related Party Transactions of revenue or trading nature for MSM Malaysia Holdings Berhad (MSM) (RRPT Shareholders’ Mandate). The RRPT Shareholders’ Mandate is valid until the conclusion of the forthcoming 11th AGM of the Company. SUSTAINABILITY JOURNEY HOWWE ARE GOVERNED FINANCIAL STATEMENTS ADDITIONAL INFORMATION 247
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