The Board of Directors of Nextgreen Global Berhad (“NGGB” or the “Company”) wishes to announce that Pustaka Sistem Pelajaran Sdn. Bhd. (“Pustaka Sistem”), a wholly-owned subsidiary of the Company has on 29 December 2017 entered into a Share Sale Agreement (“SSA”) with Datin Hamidah Binti Hasan to dispose of its remaining 50% equity interest (i.e. 245,691 ordinary shares) in Pustaka Yakin Pelajar Sdn. Bhd. (“Pustaka Yakin”) for a total cash consideration of RM1,250,000 after taking into consideration, amongst others, the share valuation of Pustaka Yakin carried out by an independent accounting firm.

The principal activities of Pustaka Yakin are book publisher.

The Disposal is not expected to have any material financial effects on the Company for the financial year ending 30 June 2018 in terms of earnings per share, net assets per share, and gearing of the Company. However, the Disposal will contribute a one-off net gain of about RM920,000 to the Company.

The Disposal will not have any effect on the issued shares and substantial shareholders’ shareholding in the Company. 

None of the Directors, major shareholders and/or persons connected to them have any interest, whether direct or indirect, in the Disposal.

This announcement is dated 29 December 2017.