Reference is made to the Company’s announcement made on 15 July 2022 pertaining to the Memorandum of Agreement. Unless otherwise stated, the definitions and terms used herein shall have the same meaning as defined in the previous announcement.

The Board of Directors of Nextgreen wishes to announce that Nextgreen Biomass Sdn Bhd (“NGBSB”), its wholly-owned subsidiary of the Company had on 3 April 2023 entered into a Shareholders’ Agreement (“SA”) with Greentech Malaysia Alliances Sdn Bhd (“GTMASB”), Koperasi Sahabat Amanah Ikhtiar Malaysia (KOOP SAHABAT) Berhad (“KOOP SAHABAT”) and Koperasi Perkhidmatan Setia Berhad (“KOSETIA”), to establish a joint venture in the special purpose vehicle (“SPV”) Company namely GTC Biomass Berhad for constructing, developing and commissioning Twenty (20) Oil Palm Waste Collection and Processing Centres (“the Centres”) throughout Malaysia (“the Project”).

NGBSB, GTMASB, KOOP SAHABAT and KOSETIA are collectively referred to as the “Parties” and separately as “Party”.

KOOP SAHABAT and KOSETIA are collectively referred to as “Cooperatives”.

Please refer to the attachment for the details of the announcement. 

This announcement is dated 3 April 2023.