Further to the announcements on 16 February 2017, 21 February 2017 and 22 February 2017 in relation to the Proposed Acquisition of 55% Equity Interest in Tetap Gembira Development Sdn. Bhd. (TG), both parties, TG and ATTA had agreed to vary the terms and conditions of the Undertaking as follows:

1)    The salient terms of the Undertaking under Clause 1 to be read as follows:   

The consideration and obligation for the Proposed Acquisition shall be RM6,187,500 whereby

a)   RM1,237,500.00 shall be for the allotment of 1,237,500 ordinary shares at an issued price of RM1.00 each;

b)  RM4,950,000 shall be treated as borrowing/advances from ATTA to TG (ATTA’s obligation)

making it a total sum of RM6,187,500 to be made payable to Malayan Banking Berhad for the purpose of settling the full redemption sum due to MBB to secure the Discharge of Charge over the Property.

2)  The completion of the timeframe of the Proposed Acquisition be extended to another 6 months pending the fulfillment of certain terms and conditions of the Undertaking Letter.  

All other terms and conditions in the Letter of Undertaking shall remain unchanged.

This announcement is dated 30 June 2017.