CAN-ONE BERHAD ("CAN-ONE" OR THE "COMPANY")

ACQUISITION OF 2,166,000 ORDINARY SHARES IN KIAN JOO CAN FACTORY BERHAD ("KJCFB") ("KJCFB SHARES"), REPRESENTING APPROXIMATELY 0.49% EQUITY INTEREST IN KJCFB BY CAN-ONE INTERNATIONAL SDN BHD ("CISB"), A WHOLLY-OWNED SUBSIDIARY OF CAN-ONE, FROM TAN KIM SENG AT A TOTAL CASH CONSIDERATION OF RM6,714,600 OR RM3.10 PER KJCFB SHARE ("ACQUISITION") AND THE RESULTANT MANDATORY GENERAL OFFER FOR ALL THE REMAINING KJCFB SHARES NOT ALREADY OWNED BY CISB AFTER THE ACQUISITION AT A CASH CONSIDERATION OF RM3.10 PER KJCFB SHARE ("MGO")

(THE ACQUISITION AND MGO ARE COLLECTIVELY REFERRED TO AS THE "PROPOSALS")

We refer to the Company's announcements dated 13 December 2018, 22 January 2019 and 23 January 2019 in relation to the Proposals ("Announcements"). Unless otherwise defined, the definitions set out in the Announcements shall apply herein.

On behalf of the Board of Directors of Can-One, AmInvestment Bank is pleased to announce that the shareholders of Can-One have approved the ordinary resolution in relation to the Proposals at the EGM held today.

The result of the poll was validated by Asia Securities Sdn Berhad, the Independent Scrutineer appointed by the Company. The details of the results of the poll are set out below.

Pursuant thereto, the SSA has become unconditional today. Pursuant to Section 218(2) of the CMSA and Paragraph 4.01(a) of the Rules, CISB is obliged to extend a MGO for the Remaining Shares for a cash consideration of RM3.10 per KJCFB Share ("Offer"). Upon completion of the Acquisition, CISB's shareholding in KJCFB will increase from 32.90% to 33.39%.

In this respect, AmInvestment Bank, on behalf of CISB, has on even date served the notice of the Offer on the Board of Directors of KJCFB ("Notice").

A copy of the Notice is attached to this announcement.

This announcement is dated 14 February 2019.