HB Global Limited (KLSE:HBGLOB) entered into a conditional share sale agreement to acquire Kk Fresh Frozen Sdn. Bhd. from Tan Hwa Sing for MYR 30 million on April 6, 2023. Consideration compromise of 2,250,000 ordinary shares in KK Fresh Frozen Sdn Bhd (?KK Fresh?), representing for a total purchase consideration of MYR 30 million to be satisfied wholly by issuance of 200,000,000 Shares at an issue price of MYR 0.15 per share. Kk Fresh Frozen Sdn. Bhd. reported revevune and profit after tax MYR 122.66 million and 1.84 million simultaneously for the year ended December 31, 2022. The SSA shall be conditional upon due diligence on KK fresh, HBGL having obtained the approval of Bursa Securities for the listing and quotation of the Consideration Shares, HBGL shareholders approval, Vendor having obtained the approval of its directors and members, and from financial institutions for change in the shareholdings. The Parties shall enter into and execute an escrow agreement with the Stakeholder in relation to the Security Shares, effective after completion. As of July 5, 2023, HB Global Limited and Kk Fresh Frozen have mutually agreed to extend the conditional period from July 5, 2023 to September 3, 2023. As of August 30, 2023, HB Global Limited and Kk Fresh Frozen have mutually agreed to extend the conditional period from September 3, 2023 to December 2, 2023.

M&A Securities has been appointed as the Principal Adviser for the Proposed Acquisition.