CIRCULAR TO SHAREHOLDERS IN RELATION TO PART A: (I) PROPOSED DISPOSAL OF 100% EQUITY INTEREST IN WILLOWGLEN (MALAYSIA) SDN. BHD. ("WMSB") TO ELIXIR II PTE. LTD. ("ELIXIR II"), FOR A CASH CONSIDERATION OF RM40.0 MILLION ("PROPOSED WMSB DISPOSAL"); (II) PRO

Circular/Notice to Shareholders

WILLOWGLEN MSC BERHAD

Subject

CIRCULAR TO SHAREHOLDERS IN RELATION TO PART A: (I) PROPOSED DISPOSAL OF 100% EQUITY INTEREST IN WILLOWGLEN (MALAYSIA) SDN. BHD. ("WMSB") TO ELIXIR II PTE. LTD. ("ELIXIR II"), FOR A CASH CONSIDERATION OF RM40.0 MILLION ("PROPOSED WMSB DISPOSAL"); (II) PROPOSED DISPOSAL OF 100% EQUITY INTEREST IN WILLOWGLEN SERVICES PTE. LTD. ("WSPL") TO ELIXIR II, FOR A CONSIDERATION OF RM175.2 MILLION TO BE SATISFIED VIA A COMBINATION OF CASH OF RM72.0 MILLION AND ISSUANCE OF NEW ORDINARY SHARES IN ELIXIR II OF RM103.2 MILLION ("PROPOSED WSPL DISPOSAL"); AND (III) PROPOSED CHANGE OF NAME OF OUR COMPANY FROM WILLOWGLEN MSC BERHAD TO WILLOWNEX BERHAD ("PROPOSED CHANGE OF NAME") (COLLECTIVELY REFERRED TO AS "PROPOSALS"), AND PART B: INDEPENDENT ADVICE LETTER FROM CFSOLUTIONS SDN BHD TO THE SHAREHOLDERS OF WILLOWGLEN MSC BERHAD IN RELATION TO THE PROPOSED DISPOSALS (AS DEFINED HEREIN)

Please refer attachment below.