The Board of Directors of Kelington is pleased to announce that the Company has on 6 February 2017 entered into a Sales and Purchase Agreement of Shares (“SPA”) with the following parties for the acquisition of 3,528,000 ordinary shares of RM0.01 each, representing 49% of the total issued and paid-up capital of HITI Engineering (M) Sdn. Bhd. (Company No. 151260-M) (“HITI”) for a total consideration of RM303,121.65 (Ringgit Malaysia Three Hundred Three Thousand and One Hundred Twenty One and Cents Sixty Five only) [“Acquisition of Shares”]:-

1. Chang Chin Sia (NRIC No. 620731-08-5675);
2. Ng Boon Hock (NRIC No. 541019-08-5553); and
3. Francis Chia Mong Tet (NRIC No. 510801-05-5117).

In consequent thereto, HITI shall become a subsidiary of the Company, upon the completion of acquisition of 49% equity interest in HITI.

HITI was incorporated on 25 February 1986 and has an issued and paid-up capital of RM72,000.00 comprising 7,200,000 ordinary shares of RM0.01 each. The principal activities of HITI are trading, design and construction of clean room and high technology plants.

The Acquisition of Shares have no material effect on earnings per share nor net assets per share of Kelington Group for year ending 31 December 2017.

None of the Directors and/or Major Shareholders of the Company and/or persons connected with Directors and/or Major Shareholders has any interest, direct or indirect, in the Acquisition of Shares.

This announcement is dated 6 February 2017.

COMCORP