We refer to Zetrix AI Berhad's ("Zetrix" or the "Company") announcement dated 4 September 2026 in respect of the aforesaid matter.
In this connection, kindly furnish Bursa Malaysia Securities Berhad ("Bursa Securities") with the following additional information for public release:
1. In respect of the Prerequisite Acquisition:
a) To explain the commercial rationale for structuring the transaction through IPVG instead of acquiring the relevant shareholdings directly from the existing shareholders of MYEG Ventures Inc. ("MYEG Ventures").
b) The timeframe for completion of the Prerequisite Acquisition.
c) To clarify whether IPVG has entered into any agreements with the other shareholders holding the remaining 40.6% equity interest in MYEG Ventures in relation to their intention to dispose their shares to IPVG.
2. To clarify the accounting treatment of MYEG Ventures in the consolidated financial statements of Zetrix upon completion of the Proposed Acquisition.
3. To provide the net assets of MYEG Philippines, Inc ("MYEG Philippines") and other relevant financial information, where relevant.
4. In respect of the Purchase Consideration:
a) It was stated that the Purchase Consideration was determined based on the internal valuation of MYEG Ventures. In this respect, please provide the valuation methodology together with its basis and parameters.
b) It was stated that in determining the purchase consideration, the Board had taken into consideration, among others, the financial performance, financial position, business prospects and growth potential of MYEG Philippines and the Board is of the view that the Purchase Consideration of RM130 million (for the effective interest of 25.5% in MYEG Philippines) is justified and in the best interests of the Company.
In this respect, please elaborate the factors and justifications that the Board had taken into consideration, particularly where MYEG Philippines had only recorded an average profit after tax of PHP21,614,355 (approximately RM1.4 million, based on exchange rate of 1 PHP: RM0.065) for the past 3 financial year ended 31 December 2023, 2024 and 2025 (based on Zetrix's announcement dated 4 September 2026), and net assets of RM20 million (based on annual report of Zetrix for financial year ended 31 December 2025).
5. Zetrix announced on 4 September 2026 that it had terminated the Share Purchase Agreement with Next Lion Limited in relation to the purchase of 50% equity interest in MYEG Venture following a review of the commercial rationale due to the share price volatility for the consideration shares. However, Zetrix had on the same day entered into the Share Purchase Agreement with IPVG to acquire 50% equity interest in MYEG Ventures. Please explain the rationale.
Please furnish Bursa Securities with the Company's reply by 8 September 2026.