Leopard Venture Sdn. Bhd. entered into a sale and purchase agreement to acquire NovelPlus Sdn.

Bhd. from M-Mode Bhd (KLSE:MMODE) for MYR 1.5 million in cash on November 22, 2016. LVSB shall pay 10% disposal consideration upon signing of the agreement, balance amount will be paid 30 days from the date of the agreement.

There are no liabilities to be assumed by Leopard Venture Sdn. Bhd. Post completion, NovelPlus Sdn will cease to be a wholly-owned subsidiary of Leopard Venture Sdn.

Bhd. As on December 31, 2016 NovelPlus reported MYR 0.015 million of revenue. The transaction is not subject to approvals to be obtained from the shareholders of M-Mode or any other relevant regulatory authorities.

The transaction is expected to close on December 31, 2016. The entire proceeds of the transaction will be used for working capital of M-Mode Berhad. The transaction does not have any effect on the share capital, earnings per share, net assets per share and gearing and substantial shareholders' shareholdings of M-Mode Berhad.