Reference is made to the announcements dated 24 April 2025, 23 June 2025 and 11 August 2025 in relation to the Proposed Investments (“Announcements”). Unless otherwise defined, the definitions set out in the Announcements shall apply herein.

The Board wishes to announce that the Company had on 31 October 2025 completed the exercise of Binastra Call Option granted pursuant to the SSA to acquire the Binastra Call Option Shares, representing an additional 10.20% equity interest in LF Lansen for a total cash consideration of RM8,670,000 (“Binastra Call Option Price”), computed in accordance with the terms set out in the SSA.

Following the completion of the acquisition of the Binastra Call Option Shares by Binastra, LF Lansen has become a 51%-owned subsidiary of Binastra and the Vendor Call Option has accordingly lapsed and ceased to be valid for any purpose.

The Binastra Call Option Price was  funded via internally generated funds of Binastra Group. 

The exercise of the Binastra Call Option will not have any effect on the share capital of Binastra and substantial shareholders’ shareholdings in the Company as the exercise of the Binastra Call Option does not involve the issuance of new ordinary shares in Binastra. The proforma effects of the exercise of the Binastra Call Option on the NA per Binastra Share, gearing and EPS of Binastra Group have been set out within the Announcements.

This announcement is dated 31 October 2025.