Nexgram proposed to raise working capital for business expansion through 10% Private Placement. [21 Sept 2016]

KUALA LUMPUR, 21 September 2016: On behalf of the Board of Directors of Nexgram (“Board”), M&A Securities Sdn Bhd (“M&A Securities”) wishes to announce that the Company proposes to undertake a private placement of up to ten percent (10%) of the existing issued and paid-up share capital of Nexgram (“Proposed Private Placement”).

The Proposed Private Placement will be undertaken in accordance with the general mandate pursuant to Section 132D of the Companies Act, 1965 (“Companies Act”) obtained from the shareholders of the Company at its Eleventh Annual General Meeting (“AGM”) convened on 27 October 2015, whereby the Board had been authorised to allot and issue new shares in Nexgram not exceeding ten percent (10%) of the issued capital of the Company (“Existing Mandate”).

Further details of the Proposed Private Placement are set out in the attachment.

This announcement is dated 21 September 2016.

Nexgram Holdings Berhad (“Nexgram Group”) is a public listed investment holding company based in Kuala Lumpur, Malaysia. As of to date, it operates through the following segments: Telecommunication, Security & Surveillance, Software Development, Property Development, Industries, Business Advisories and Investment activities.