On behalf of the Board of Director of MMIS ("Board"), Kenanga Investment Bank Berhad ("Kenanga IB") wishes to announce that the Company had on today received a letter from Loh Chin Soon, Loh Chin Siang, Low Oo Seng, Law Woo Hock and Cheong Siew Chyuan ("Joint Offerors"), requesting the Board to consider undertaking the Proposed Withdrawal of Listing and Proposed Listing (collectively referred to as the "Proposed Transfer of Listing") ("Proposal Letter").
Pursuant to the Proposal Letter, the Joint Offerors proposed to undertake a cash exit offer which will be extended through a pre-conditional voluntary general offer in accordance with the Rules on Take-overs, Mergers and Compulsory Acquisitions issued by the Securities Commission Malaysia ("Rules") for all the remaining ordinary shares in MMIS not already held by the Joint Offerors to facilitate the Proposed Transfer of Listing ("Proposed Exit Offer").
The Board (save for Loh Chin Soon, Loh Chin Siang and Law Woo Hock, being the interested Directors of MMIS in relation to the Proposed Transfer of Listing) had subsequently deliberated on the Proposed Transfer of Listing and the Board will take the necessary steps to implement the Proposed Transfer of Listing.
In addition to the above and to facilitate the implementation of the Proposed Transfer of Listing, the Company proposes to undertake the Proposed Amendments to the existing constitution of the Company to facilitate the requirements of ACE Market Listing Requirements of Bursa Malaysia Securities Berhad ("Bursa Securities") pursuant to the Proposed Listing ("Proposed Amendments").
In accordance with Rule 8.06(1)(d) of the LEAP Market Listing Requirements of Bursa Securities, the Board (save for Loh Chin Soon, Loh Chin Siang and Law Woo Hock) had on 30 July 2026, appointed Sierac Corporate Advisers Sdn. Bhd. as the Independent Adviser to advise and make recommendations to the Company's shareholders in connection with the Proposed Transfer of Listing, as well as the fairness and reasonableness of the Proposed Exit Offer.
Please refer to the attachment for further details on the Proposals.
This announcement is dated 30 July 2026.