PROPOSED DISPOSAL BY K2 META SDN BHD ("K2 META"), A WHOLLY-OWNED SUBSIDIARY OF K-ONE, OF 600,000 AND 400,000 ORDINARY SHARES IN G-ASIAPACIFIC SDN BHD ("GAP") TO ITOCHU SINGAPORE PTE LTD AND ITOCHU CORPORATION (COLLECTIVELY REFERRED TO AS THE "PURCHASERS"), RESPECTIVELY, FOR A DISPOSAL CONSIDERATION OF RM94,000,000 TO BE WHOLLY SATISFIED IN CASH ("PROPOSED DISPOSAL")

PROPOSED CAPITAL REDUCTION CUM REPAYMENT OF THE ISSUED SHARE CAPITAL OF K-ONE OF RM46.00 MILLION PURSUANT TO SECTION 116 OF THE COMPANIES ACT 2016 ("PROPOSED CAPITAL REDUCTION AND REPAYMENT")