On behalf of the Board of Directors of Pecca (“Board”), Public Investment Bank Berhad (“PIVB”) wishes to announce that Pecca proposes to undertake the following:

(i)         an acquisition of 204,000 ordinary shares in Rentas Health, representing 51% equity interest in Rentas Health (“Sale Shares”) from Teoh Zi Yuen (“TZY” or “Vendor”) for a purchase consideration of RM100,000,000 (“Purchase Consideration”). The Purchase Consideration shall be satisfied via a combination of RM50,000,000.00 in cash (“Cash Consideration”) and issuance of 11,990,400 new Pecca Shares at an issue price of RM4.17 per Pecca Share (“Consideration Shares”) (“Proposed Acquisition”); and

(ii)        diversification of the existing principal activities of the Company and its subsidiaries (“Pecca Group” or “Group”) to include healthcare related businesses (“Proposed Diversification”).

(The Proposed Acquisition and Proposed Diversification are collectively referred to as the “Proposals”).

Please refer to the attachment for further details on the Proposals.

This announcement is dated 2 August 2021.