Careplus Group Berhad entered into a binding term sheet to acquire Intro Synergy Sdn Bhd from Go Automobile Manufacturing Sdn Bhd for MYR 7.4 million on June 2, 2023. As part of the transaction, Careplus will acquire 300,000 ordinary shares in ISSB and will be issued 25,000,000 ordinary shares in Careplus to GoAuto. Post-acquisition, Careplus will hold 30% stake and Go Automobile will hold 70% stake in Intro Synergy Sdn.

The term sheet is not subject to the approval of Careplus? shareholders and/or any regulatory authorities. Careplus having conducted a legal due diligence review on the affairs of ISSB and being reasonably satisfied with the due diligence findings thereof including resolution of any issues arising from the said due diligence findings.

The term sheet is not expected to have any material effect on the earnings per share, net assets per share and gearing of the Company for the financial year ending June 30, 2024. The completion of the SSA shall take place on a business day not later than 30 days from the Unconditional Date. UOB Kay Hian Securities (M) Sdn Bhd acted as financial advisor to Careplus Group Berhad.