Favelle Favco Berhad (“the Company” or “Favco”) Heads of Agreement in Relation to the Proposed Acquisition of 70% Equity Interest in Each of the Following Companies: (I) Exact Automation Sdn Bhd; (Ii) Sedia Teguh Sdn Bhd; (Iii) Exact Analytical Sdn Bhd; and (Iv) Exact Oil & Gas Sdn Bhd (Items (I) to (Iv) Above Are Collectively Referred to as “Target Companies”).

OTHERS FAVELLE FAVCO BERHAD ("THE COMPANY" OR "FAVCO") HEADS OF AGREEMENT IN RELATION TO THE PROPOSED ACQUISITION OF 70% EQUITY INTEREST IN EACH OF THE FOLLOWING COMPANIES: (I) EXACT AUTOMATION SDN BHD; (II) SEDIA TEGUH SDN BHD; (III) EXACT ANALYTICAL SDN BHD; AND (IV) EXACT OIL & GAS SDN BHD (ITEMS (I) TO (IV) ABOVE ARE COLLECTIVELY REFERRED TO AS "TARGET COMPANIES").

FAVELLE FAVCO BERHAD

FAVELLE FAVCO BERHAD ("FFB" or "the Company")
HEADS OF AGREEMENT IN RELATION TO THE PROPOSED ACQUISITION OF 70% EQUITY INTEREST IN EACH OF THE FOLLOWING COMPANIES:
 
(I)           EXACT AUTOMATION SDN BHD;
(II)          SEDIA TEGUH SDN BHD;
(III)         EXACT ANALYTICAL SDN BHD; AND
(IV)         EXACT OIL & GAS SDN BHD
 
(ITEMS (I) TO (IV) ABOVE ARE COLLECTIVELY REFERRED TO AS "TARGET COMPANIES").

Unless otherwise defined, the terms used in this announcement shall have the same meaning as those defined in the announcement dated 5 October 2017.

We refer to the announcement dated 5 October 2017 in relation to the above.
The Board of Directors of the Company wishes to announce that the Parties to the HOA had on 4 January 2018 mutually agreed to extend the HOA for a further period of two (2) months to 4 March 2018 to facilitate the finalisation of the detailed terms and conditions in relation to the Proposed Acquisition.

Other than the aforementioned, all other terms stated in the HOA remain unchanged.
This announcement is dated 4 January 2018.