1. Introduction
The Board of Directors of AGMO wishes to announce that Agmo Studio Sdn. Bhd. [Registration No. 201201001183 (974707-M)] ("Agmo Studio") had on 29 April 2026 entered into a Memorandum of Understanding ("MOU") with Verity Intelligence Sdn. Bhd. [Registration No. 200801016488 (817779-W)] ("Verity Intelligence") to evaluate and explore potential business collaboration opportunities.
(Agmo Studio and Verity Intelligence shall hereinafter be collectively referred to as "Parties" and individually referred to as "Party").
2. Information on the Parties
2.1 Agmo Studio
Agmo Studio was incorporated on 11 January 2012 as a private company limited by shares with its registered address at B-21-1, Level 21, Tower B, Northpoint Mid Valley City, No. 1, Medan Syed Putra Utara, 59200, Kuala Lumpur, Wilayah Persekutuan. The principal activity of Agmo Studio is provision of digital solutions and application development services.
The Directors of Agmo Studio are Tan Aik Keong and Low Kang Wen, who are the directors and substantial shareholders of AGMO.
2.2 Verity Intelligence
Verity Intelligence was incorporated on 15 May 2008 as a private company limited by shares with its registered address at No. 32, Jalan SS 6/8, Petaling Jaya, Selangor. The principal activity of Verity Intelligence is pre-employment and employee screening, background check and other related screening services.
The Directors and shareholders of Verity Intelligence are Mark Leow Boon Kuan and Tham See See.
3. Salient Terms of MOU
The potential business collaboration is in the areas set forth below:
a) To integrate Verity Intelligence's screening engine with Agmo Studio's SMEHero.ai platform to provide on-demand candidate background verification services for small and medium-sized enterprise ("SME") merchants; and
b) The joint promotion and marketing of these integrated screening solutions to SMEHero.ai's merchant base to enhance hiring integrity and workplace safety.
The MOU shall be effective from 29 April 2026 ("Effective Date") and remain valid until the earlier of (a) one (1) year, or (b) the date the Parties have entered into definitive agreement(s) which supersede the MOU.
The MOU can be terminated on the ground of non-execution by any Party or by mutual consent.
4. Rationale of the MOU
The purpose of the MOU is to undertake possible collaboration in the areas as disclosed in Section 3 of this announcement.
5. Financial Effects
The MOU is not expected to have any material effect on the earnings per share, net assets per share, gearing, share capital and substantial shareholders' shareholdings of the Company for the financial year ending 31 March 2027.
6. Risk Factors
The risk factors involved in the MOU at this juncture is expected to be minimal and, in the event the Company enters into a future definitive agreement with Verity Intelligence, the Board of Directors and the management of the Company will exercise due care in considering the associated risks and benefits.
7. Directors' and/or Substantial Shareholders' Interest
None of the Directors and substantial shareholders of AGMO and/or persons connected to them have any interest, direct or indirect, in the MOU.
8. Statement by Directors
The Board of Directors of AGMO having considered all aspects of the MOU is of the opinion that the MOU is in the best interest of AGMO.
9. Approval Required
The MOU does not require the approval of shareholders of the Company and any relevant government authorities.
10. Document Available for Inspection
The MOU is available for inspection at B-21-1, Level 21, Tower B, Northpoint Mid Valley City, No. 1, Medan Syed Putra Utara, 59200 Kuala Lumpur, W.P. Kuala Lumpur between 9.00 a.m. and 5.00 p.m. from Mondays to Fridays (except on public holidays) for a period of 3 months from the date of this announcement.
This announcement is dated 29 April 2026.