AsiaPhos Limited Announces Third Extension of Term Sheet for Proposed Acquisition of Exquisite Mode Sdn Bhd

Key Points of the Announcement

• AsiaPhos Limited (“the Company”) is seeking to acquire a 97.41% stake in Exquisite Mode Sdn Bhd (“the Target Company”).
• The acquisition is from United Malayan Land Bhd (“the Vendor”). The transaction is subject to a series of binding term sheets and definitive agreements between the parties.
• The Company has announced that, as of 30 March 2026, the parties have agreed to a third extension of the Term Sheet Termination Date, now set to expire on 30 September 2026.
• The reason for the extension is related to a pending legal dispute: The Malaysian Court has issued an injunction restraining the Vendor from entering into definitive agreements with AsiaPhos Limited.
• The matter is awaiting the resolution of the dispute between the shareholders of the Vendor. The extension is intended to provide the parties time to revisit their positions should the injunction be lifted, varied, or otherwise cease to have effect.
• All other terms and conditions of the original Term Sheet remain in full force and effect, except as expressly amended by this third extension.
• A copy of the Third Extension Letter will be available for inspection at the Company’s registered office for three months from the date of the announcement.

Important Information for Shareholders

• This development is potentially price sensitive and may affect the share value of AsiaPhos Limited.
• The acquisition, if completed, could significantly alter the business profile, asset base, and future prospects of AsiaPhos Limited, making this an important event for investors to monitor closely.
• However, there is no certainty or assurance as of the date of the announcement that the definitive agreements will be executed, or that the proposed acquisition will be completed. The outcome is contingent on the resolution of the ongoing legal dispute and the lifting of the injunction.
• Shareholders and potential investors are strongly advised to exercise caution when trading in the shares of AsiaPhos Limited and to pay attention to further announcements by the Company regarding the status of the proposed acquisition and related transactions.

Further Steps and Availability of Documents

• The Company will continue to provide updates and make necessary announcements regarding the proposed acquisition, any related transactions, and other material developments.
• The Third Extension Letter is available for inspection at AsiaPhos Limited’s registered office at 1 Harbourfront Avenue #14-07 Keppel Bay Towers, Singapore 096632, during normal business hours for a period of three months from the date of the announcement.

Cautionary Statement

As the proposed acquisition is subject to the execution of definitive agreements and satisfaction of certain conditions, investors should be aware that there can be no assurance of completion. The presence of a court injunction and ongoing shareholder dispute within the Vendor are significant hurdles that could influence the outcome and timing of the transaction.

Contact Information

• For any queries, investors may contact Mr. Jerry Chua at Evolve Capital Advisory Private Limited, the Company’s sponsor (Tel: +65 6241 6626), at 160 Robinson Road #20-01/02 SBF Center Singapore 068914.

Disclaimer: This article is a summary and interpretation of the official announcement released by AsiaPhos Limited on 31 March 2026. It is intended for informational purposes only and does not constitute investment advice. Shareholders and investors should exercise due diligence and consult their financial advisors before making any investment decisions. The content has not been reviewed or approved by the Singapore Exchange, which assumes no responsibility for its accuracy or completeness.

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