Investor Relations

Reference is made to the Company's announcements on 12 December 2018, 2 May 2019, 8 May 2019, 18 June 2020, 21 August 2020, 21 September 2020, 19 November 2020, 5 March 2021, 23 April 2021, 17 June 2021 and 21 June 2021 in relation to the Proposed Disposal ("Announcements"). For consistency purposes, the abbreviations used in this announcement are the same as those previously defined in the Announcements unless otherwise defined herein.

On behalf of the Board, Inter-Pacific Securities Sdn Bhd and Astramina Advisory Sdn Bhd wish to announce that an appeal to Bursa Securities’ decision has been submitted today to request for granting of the waiver from complying with the Paragraph 8.03A(2)(a) of the Main Market Listing Requirements of Bursa Securities.

The appeal letter has clarified to Bursa Securities that the concerns expressed in Bursa Securities’ decision are mainly related to historical data which are not relevant for the Group’s mobile and digital business moving forward, while providing further facts to support the Waiver Application.

The Board believes that the mobile and digital businesses of the Group have favorable high growth potential and prospect which warrant adequate level of operations of the Group. Further, pursuant to the TAS Acquisition, En. Sabri bin Ab Rahman ("SAR"), who is the vendor of the shares in TAS as well as a substantial shareholder and Executive Director of Pertama, has provided an aggregate profit guarantee on the profit after tax of DVSB for the FYEs 31 December 2020, 2021 and 2022 of not less than a total sum of RM9.0 million excluding extraordinary items. In the event of any shortfall in the said profit guarantee, SAR has undertaken to top-up the shortfall in cash.

The Proposed Disposal which enables the Group to focus on its mobile and digital businesses is meant to bring value to all shareholders.

The Board wishes to emphasise that Bursa Securities’ decision dated 21 June 2021 has no impact on the current operations of the Group in all aspects. The Waiver Application is only a technical position to reverse dependency on the outgoing business that is the subject of the Proposed Disposal, to be replaced with fintech via DVSB.

Further, the Board wishes to clarify that as disclosed in the Company’s circular to shareholders dated 30 July 2020 in relation to, among others, the full completion of the Proposed Disposal in 3 tranches enables the Company to receive progressive payment from GIL, yet the progressive completion will not result in the Company being classified as an Affected Listed Issuer as the Tranche 3 Completion for 52% equity interest in Be Top is conditional upon inter alia the approval from Bursa Securities on the Waiver Application. The Tranche 3 Completion will not take place without the Company obtaining Bursa Securities’ approval on the Waiver Application. Accordingly, Be Top will then remain as a 52%-owned subsidiary of Pertama (upon the Tranche 1 Completion and Tranche 2 Completion). Hence, the issue of inadequate level of operation will be mitigated with Be Top remaining as a subsidiary of Pertama and Pertama can still maintain its listing status on the Main Market of Bursa Securities.

This announcement is dated 25 June 2021.