Transfer of approximately 41.09% equity interest in IOI Corporation Berhad ("IOICORP") comprising 2,635,422,080 IOICORP Shares from Progressive Holdings Sdn Bhd ("PH") to its wholly-owned subsidiary, Vertical Capacity Sdn Bhd. This transfer is part of a rationalisation exercise of PH to centralise the management of its investment holdings, and there is no change in the ultimate beneficial ownership of the IOICORP Shares