Reference is made to the Company’s announcements made on 22 November 2018, 3 April 2019 and 13 June 2019. The Board of Directors of Hua-An wishes to announce that the Company had on 2 December 2019 entered into the following agreements:

(A) Deed of Revocations to rescind and revoke the following agreements which were executed on 3 April 2019:

  1. Sale and Purchase Agreement for the proposed acquisition of business and asset including of Intellectual Property Right owned by Wavetree PLT (“Assets and Intellectual Property”) for a total purchase consideration of RM6.0 million; and
  2. Shareholders Agreement to govern the rights, liabilities and obligations of the shareholders vis-à-vis each other in relation to the management and operation of Fancy Celebrations Sdn. Bhd.

(B) Sale and Purchase Agreement for the proposed acquisition of Assets and Intellectual Property for a total purchase consideration of RM36.0 million.

Please refer to the attachment for details of the announcement.

This announcement is dated 2 December 2019.