The Board of Directors of Rhone Ma Holdings Berhad announce that its indirect 49%-owned subsidiary, A2 Fresh Sdn. Bhd. had on 22 September 2021 entered into a joint venture cum shareholders agreement with Kulim (Malaysia) Berhad to develop, operate and manage a potential dairy project. The parties hereby agree that the JVSHA is conditional upon the fulfillment of the following conditions ("Conditions Precedent") within 60 days from the date of the JVSHA: A2FSB having obtained the approval from the Board to enter into the JVSHA and to participate in the Dairy Project; A2FSB having passed the resolution of its board and shareholders (where applicable) for the execution of the JVSHA or any other definitive agreement(s) in relation to the Dairy Project and performance of its obligation thereunder, including but not limited to, the subscription of the shares in the special purpose vehicle company ("SPV"); andKulim having passed the resolution of its board and shareholders (where applicable) for the execution of the JVSHA or any other definitive agreement(s) in relation to the Dairy Project and performance of its obligations thereunder, including but not limited to, the subscription of the share in the SPV.