The Board of Directors of Techna-X Berhad announced that TXB had on 24 January 2022 entered into a Loan Agreement ("Agreement") with Advance Opportunities Fund ("AOF" or "Lender") for a loan sum of USD 7,500,000 ("Loan") for the purpose of repayment of debt owing to the vendors of Touchpoint International Sdn. Bhd. and Wavetree PLT amounting to MYR 60,260,000, subject to the Borrower pledging the entire issued and paid-up shares of its wholly-owned subsidiary, PIPO Overseas Limited ("PIPO") in favour of the Lender, upon the terms and conditions as stipulated in the Agreement.

Further details of the Agreement are set out in the ensuing sections of this announcement. 2.0% per annum ("Prescribed Rate") shall be payable by the Borrower to the Lender on the date of the repayment/discharge of indebtedness by the Borrower. The period of 12 months commencing from the first drawdown date of the Loan and on the expiry of which, the Loan and interest thereon and all other sums due and payable (including the Share of Revenue) by the Borrower to the Lender hereunder must be fully repaid and paid respectively to the Lender.