News

References are made to the Company’s announcements dated 14 September 2021, 17 September 2021 and 28 October 2021. Unless otherwise stated, defined terms used in this announcement shall have the same meanings as those used in the earlier announcements.

Further to the announcement made on 28 October 2021, the Board of Directors of KAB wishes to clarify that the Purchase Consideration for the Proposed Acquisition was also after taking into consideration the professional fee incurred by the vendor, YLGV for the research and reviewing the feasibility of the robotic products before procuring its exclusivity right as the sole distributor in Malaysia. 

In justifying the Purchase Consideration, the Board of Directors of KAB has taken into consideration, among others, the following:

1. the future earnings arising from the exclusivity right as a sole distributor of robotic products in Malaysia effective from 30 July 2021; and 
2. the rationale and benefits of the acquisition as set out in section 5 of the announcement dated 28 October 2021.

This announcement is dated 29 October 2021.