The Board of My E.G. Services Berhad (KLSE:MYEG) announced the spin-off of 25.8% stake of Agmo Holdings Berhad (KLSE:AGMO) for MYR 64.3 million on December 23, 2022. As per the transaction, My E.G. Services Berhad will distribute 84 million shares of Agmo in two separate tranches to entitled shareholders of the company whose names appear in the record of depositors of the company on January 12, 2023. First 6-Month Moratorium, 69,750,000 distributable shares are expected to be distributed on the basis of approximately 0.0093 Agmo share for every 1 share held by entitled shareholders on the entitlement date and second 6- month moratorium, 14,250,000 distributable shares are expected to be distributed on the basis of approximately 0.0019 Agmo share for every 1 share held by entitled shareholders on the entitlement date.

The distribution of the first tranche of the Dividend-in-Specie, consisting of 69,750,000 Agmo shares was completed on March 13, 2023. As of August 23, 2023, The Company wishes to inform that the moratorium for the remaining 14,250,000 Agmo Shares (''Second Tranche Agmo Shares'') held by the Company have been uplifted on August 18, 2023 and is now available for distribution. The record date for 2nd tranche is September 6, 2023.

The transaction is expected to close in second half of 2023. AmBank Group acted as financial advisor to My E.G. Services Berhad.