We refer to the announcement made on 8 April 2019.

The Board of Directors of Nylex wishes to announce that the Company and Utusan (collectively referred as the “Parties”) have on 16 July 2019 entered into a Supplemental Settlement Agreement (“Supplemental Settlement Agreement”) to vary the terms of the Settlement Agreement dated 8 April 2019.

The salient terms of the Supplemental Settlement Agreement, amongst others, are:

(a)       Utusan is required under the  relevant provisions of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad and other applicable guidelines to obtain a valuation report from an approved valuer and to obtain shareholders’ approval for the transfer of the parcel known as Unit No. 7-10, Wisma 730 (The Trax), No.1 Jalan Lima Off Jalan Chan Sow Lin, 54200 Kuala Lumpur measuring 10,335 square feet (“Trax Property”) from its wholly owned subsidiary, Juasa Holdings Sdn. Bhd. (“Proprietor”) to Nylex.

(b)       Due to the additional time required for Utusan to obtain the said valuation report before it can make an announcement on the sale and purchase agreement between the Proprietor and Nylex, Parties have agreed to grant Utusan up to 31 July 2019 or at any later date agreed by all Parties in writing to procure the Proprietor to execute the sale and purchase agreement for the transfer of the Trax Property.

 This announcement is dated 16 July 2019.