Pursuant to Chapter 10, Paragraph 10.06 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of MIB wishes to announce that Mulpha Credit Sdn Bhd (“MCSB”), an indirect wholly-owned subsidiary of MIB,  which owns 37.81% in Education Perfect Group Limited (“EPGL”), a New Zealand company involved in the online education sector, has entered into a transaction to dispose of its entire equity interest in EPGL in the manner and terms as described below.

MCSB together with the other shareholders of EPGL (collectively referred to as the “Selling Shareholders” as listed in Section 2.1(c) below) have on 22 June 2021, entered into a Share Sale Agreement (“Agreement”) with Highlander III NZ Limited (“Purchaser”) for the joint disposal of 33,068,887 ordinary shares, collectively representing 100% equity interest in EPGL.

MCSB currently holds 12,504,754 ordinary shares in EPGL, thus representing a disposal of a 37.81% equity interest in EPGL (“Sale Shares”) (hereinafter referred to as the “Proposed Disposal”).  Upon completion of the Proposed Disposal, EPGL shall cease to be an associated company of MCSB.

Kindly refer to the attached document for the complete announcement.

This announcement is dated 22 June 2021.