Unless otherwise stated, all definitions and terms used in this announcement shall have the same meanings as defined in the Company's announcement made on 19 December 2023.
1. INTRODUCTION
Reference is made to the Company's earlier announcement dated 19 December 2023 relating to the establishment of a long-term incentive plan ("LTIP") by Toyoplas Manufacturing (Malaysia) Sdn Bhd ("TMM") and Century Bond Bhd, the Company's indirect wholly-owned subsidiaries, through the issuance of new redeemable preference shares ("RPS") to their employees.
Pursuant to Paragraph 9.19(52) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of KPS Berhad wishes to announce that, on 25 May 2026, TMM has issued 100 new RPS at an issue price of RM1.00 each, for a total cash consideration of RM100, to its new Chief Executive Officer, Ms Kelly Teo.
The terms, rationales, and other details of the LTIP remain unchanged from those set out in the earlier announcements.
2. FINANCIAL EFFECT
Save for the RM100 increase in the Company's consolidated net asset position arising from the subscription of the RPS (which will be reversed upon redemption by TMM), there is no effect on the capital structure of TMM, which will remain an indirect wholly-owned subsidiary of the Company.
Accordingly, there is no dilution of KPS Berhad's equity interest in TMM, nor any impact on KPS Berhad's gearing and earnings during the subscription and redemption of the RPS.
3. INTERESTS OF DIRECTORS, MAJOR SHAREHOLDERS AND/OR PERSONS CONNECTED WITH THEM
None of the KPS Berhad's Directors, major shareholders, and/or persons connected with them have any direct or indirect interest in the LTIP. The CEO of TMM, Ms Kelly Teo, is not the Chief Executive Officer of KPS Berhad and its holding company, Darul Ehsan Investment Group Berhad, and is not a person connected to any director, major shareholder or Managing Director/ Group Chief Executive Officer of KPS Berhad and its holding company.
This announcement is dated 25 May 2026.