On 27 February 2003, AMB Packaging Pte Ltd entered into 2 conditional agreements namely:
1) a conditional Sale and Purchase Agreement with British American Tobacco (Malaysia) Berhad ('BATM') to purchase 10,473,525 ordinary shares in the company held by BATM;
2) a conditional Option Agreement with BATM for the grant of put and call options in respect of 551,475 moratorium shares in the company held by BATM.