Reference is made to the announcements dated 15 September 2015, 6 October 2015 and 18 December 2015 in relation to the Proposals (“Announcements”).

Unless otherwise stated, the definitions used throughout this announcement shall have the same meaning as defined in the Announcements.

On behalf of the Board of Directors of Fututech, the Joint Advisers are pleased to announce that Bursa Malaysia Securities Berhad (“Bursa Securities”) has vide its letter dated 18 December 2015 granted the Company an extension of time of six (6) months from the date of completion of the Proposed Acquisitions to comply with the public spread requirement pursuant to Paragraph 8.02(1) of the Main Market Listing Requirements of Bursa Securities (“Public Spread Requirement”).

Based on the Record of Depositors of Fututech as at 15 December 2015, upon the completion of the Proposed KPSB Acquisition, the public shareholding spread of the Company will decrease to approximately 20.01%, which will not be in compliance with the Public Spread Requirement.

In order to comply with the Public Spread Requirement, the Company will take / has taken, inter alia, the following measures to rectify the shortfall in public shareholding spread:-

1. The Proposed Private Placement which will be implemented after the completion of the Proposed Acquisitions is expected to be implemented prior to 17 June 2016, being within six (6) months from the date the Proposed Private Placement is approved by Bursa Securities; and

2. The Company has also obtained an undertaking from Datuk Tee, Datin Toh and TES, (who will be issued the KPSB Consideration OS and the KPSB Consideration RCPS) that:-

   1. They shall not convert and shall procure that that their nominee(s) who receive any part of the KPSB Consideration RCPS shall not convert, any part or all of the KPSB Consideration RCPS if upon the conversion of such KPSB Consideration RCPS the public spread position of Fututech will as a result of the conversion of the KPSB Consideration RCPS decrease or deteriorate further from such percentage of Fututech’s public shareholding spread as at the completion of the Proposed KPSB Acquisition; and

   2. They shall procure Egovision Sdn Bhd (“Egovision”), being the major shareholder of Fututech, to place out such number of Fututech Shares held by Egovision as and when so required by the Company, so as to enable the Company to fulfill and comply with the Public Spread Requirement in the event that the Company shall not be in compliance with the Public Spread Requirement immediately following the completion of the Proposed Private Placement or arising from the conversion of the KPSB Consideration RCPS.                                           

This announcement is dated 18 December 2015.