ANNJOO

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OTHERS ANN JOO RESOURCES BERHAD ("AJRB" OR THE "COMPANY") EXECUTION OF THE HEADS OF AGREEMENT IN RELATION TO THE PROPOSED DISPOSAL BY AJRB OF 612,993,535 ORDINARY SHARES IN ANN JOO STEEL BERHAD ("AJSB" OR THE "TARGET COMPANY") ("SALE SHARES"), REPRESENTING 100% EQUITY INTEREST IN AJSB, TO SOUTHERN STEEL BERHAD ("SSB" OR THE "BUYER") ("PROPOSED DISPOSAL")

ANN JOO RESOURCES BERHAD

Type	Announcement
Subject	OTHERS
Description	ANN JOO RESOURCES BERHAD ("AJRB" OR THE "COMPANY") EXECUTION OF THE HEADS OF AGREEMENT IN RELATION TO THE PROPOSED DISPOSAL BY AJRB OF 612,993,535 ORDINARY SHARES IN ANN JOO STEEL BERHAD ("AJSB" OR THE "TARGET COMPANY") ("SALE SHARES"), REPRESENTING 100% EQUITY INTEREST IN AJSB, TO SOUTHERN STEEL BERHAD ("SSB" OR THE "BUYER") ("PROPOSED DISPOSAL")
The board of directors of AJRB ("Board") wishes to announce that the Company had, on 27 March 2026, executed a heads of agreement ("HOA") with SSB which outlines the principal terms and conditions of the Proposed Disposal. Both AJRB and the Buyer (collectively referred to as the "Parties") have agreed to negotiate on the terms of the Proposed Disposal and to enter, if agreed, into a definitive share purchase agreement ("SPA") within 60 days from the date of the HOA or any extended date to be agreed between the Parties ("SPA Deadline"). A detailed announcement on the Proposed Disposal will be made upon execution of the SPA. The salient terms of the HOA are set out in Appendix I of this announcement. Those terms expressly mentioned in Appendix I of this announcement as having legal effect are legally binding between the Parties. For further details, please refer to the attachment below. This announcement is dated 27 March 2026.

Please refer attachment below.

Attachments

AJR-Announcement on the HOA.pdf
229.1 kB

Announcement Info

Company Name	ANN JOO RESOURCES BERHAD
Stock Name	ANNJOO
Date Announced	27 Mar 2026
Category	General Announcement for PLC
Reference Number	GA1-27032026-00067

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