The Board of Directors of JEP Holdings Limited refer to the Company's announcement dated 23 April 2019 in relation to the resolution of Proposed Acquisition which had been duly passed in Extraordinary General Meeting on 23 April 2019. The Board of company announced that pursuant to the above approved resolution, the Group has, on the date of this announcement, issued a purchase order of one (1) unit machine under Future Batches of Machinery to Interested Person under Chapter 9 of the Listing Manual Section B: Rules of Catalist of the Singapore Exchange Securities Trading Limited ("Catalist Rules") with a total consideration of SGD 160,000.00 (excluding transportation, installation and commissioning costs). The total consideration shall be satisfied through the Group's internal resources. The Group had commissioned an Independent Valuer, Raine & Horne International Zaki + Partners Sdn Bhd, which had determined the market valuation of the 1 unit of Future Batches of Machinery to be SGD 240,000.00 as at 7 November 2019.