|With reference to the announcement made on 23 June 2008, the Board of EFB wish to announce that the Company and its wholly-owned subsidiary, Evergreen Fibreboard (Nilai) Sdn Bhd have on 22 September 2008, together with Hume Industries (Malaysia) Berhad and Hume Fibreboard Sdn Bhd executed a Supplemental Agreement to the Business Transfer Agreement dated 23 June 2008. By virtue of the Supplemental Agreement, the transfer of the Business shall no longer be by way of vesting and the transfer shall be effected by way of assignment and novation of the Business. The parties further agree that completion of the sale and purchase of the Business shall take place on 25 September 2008 or such extended date as the parties may mutually agree in writing.
As at to-date, all conditions precedent to the Business Transfer Agreement dated 23 June 2008 in relation to the sale and purchase of the Business have been satisfied.
The Board of Directors of EFB is of the opinion that the terms of the Supplemental BTA is in the best interest of the HIMB Group.
The Supplemental BTA will be made available for inspection at the registered office of EFB at Suite 6.1A, Level 6, Menara Pelangi, Jalan Kuning, Taman Pelangi, 80400 Johor Bahru for a period of 2 months from the date of this announcement.
This announcement dated 22 September 2008.