Unless otherwise stated, the definitions used throughout this announcement shall have the same meaning as defined in the announcement announced by the Company on 21 November 2018 in relation to the Proposed Investment.

The Board of Directors of VSTECS wishes to announce that pursuant to the clause stated in the Term Sheet dated 21 November 2018, unless extended by written agreement between the Parties, it will automatically terminate upon the earlier of :-

(a) ninety (90) days from the date of the Term Sheet;

(b) the date on which the Parties agree in writing to terminate their respective obligations under the Term Sheet; or

(c) the date of execution of the Definitive Agreements. 

The Parties have mutually agreed to extend the time frame to execute the Definitive Agreements until 19 April 2019.

Further developments of the above matter will be announced to Bursa Securities in due course.

This announcement is dated 18 February 2019.