Common use of Proposed Disposal Clause in Contracts

Proposed Disposal. The proposed disposal of 40% equity interest in Kumpulan Voir by Vertice to Distinct Seasons for a total cash consideration of approximately RM9.0 million, subject to the terms and conditions as set out in the Disposal SSA RCPS : 2% cumulative redeemable convertible preference shares in Vertice issued and/or to be issued pursuant to the Issuance of RCPS RM and sen : Ringgit Malaysia and sen respectively Shareholders : Registered holders of Vertice Shares SIS : Employees’ share issuance scheme of the Company which took effect on 18 December 2017 and unless extended, is effective for a period of 5 years SIS Options : SIS options that may be granted to eligible persons during the duration of the SIS, where each holder of the options can subscribe for 1 new Share for every 1 option held in accordance with the terms and provisions of the by-laws Subscription : The subscription of 14,880,000 and 22,320,000 new ordinary shares in Kumpulan Voir by ▇▇▇▇▇▇▇ and Seow Khim Soon respectively, which was completed on 21 October 2021 Subscription Agreement : Subscription agreement dated 27 September 2021 entered into between Vertice, Seow Khim Soon and Kumpulan Voir for the Subscription Supplemental Principal SSA : Supplemental share sale agreement dated 21 October 2020 entered into between Vertice and Seow Khim Soon for the Initial 60% Disposal Vertice or the Company or the Vendor : Vertice Berhad (200701007217 (765218-V)) Vertice Group or the Group : Collectively, the Company and its subsidiaries Vertice Shares or Shares : Ordinary shares in the Company Warrants A : Existing warrants 2014/2024 of the Company. Each warrant holder is entitled the right to subscribe for 1 Share at an exercise price of RM0.50