PROPOSED PRIVATE PLACEMENT TO AN IDENTIFIED BUMIPUTERA INVESTOR, ETRS GTF SYSTEMS SDN BHD

Reference is made to the announcements dated 7 February 2014, 11 February 2014 and 12 February 2014 in relation to the Proposed Private Placement.

ManagePay Systems Berhad (“ManagePay” or the “Company”) is pleased to announce that it has identified eTRS GTF Systems Sdn. Bhd. (“eTRS”) as a placee for 36,606,200 Placement Shares pursuant to the Proposed Private Placement which represents approximately 9.99% of the existing issued and paid-up share capital of ManagePay. The approval from Bursa Securities for the issuance and allotment of the Placement Shares are still pending. Assuming approval is obtained for the issuance and allotment of the Placement Shares in relation to the Proposed Private Placement, the anticipated total gross proceeds to be raised is RM5,710,567.20 based on the issue price of RM0.156.

eTRS is a Bumiputera controlled company specialising in retail consulting services, operations, marketing and technology application specifically in the retail services industry. Senior personnel of eTRS has working relationship with the Malaysian Retailer Chains Association corporate members, a key retail component in the Tourist Refund Scheme project of which the ManagePay Group is currently pursuing.
(Source: Management of ManagePay)

eTRS led by Dato Dahlan Mohd Rashid, who is also the Chairman of the Association of Duty Free Operators Malaysia and Council Member of Malaysian Retailer Chains Association will aid in the Bumiputera Economic Agenda empowerment program, a program by the Government to promote participation of Bumiputera equity ownership in various industries including the retail, payment related and tourism industries.
(Source: Management of ManagePay)

An application for the listing and quotation of the Placement Shares had been submitted to Bursa Securities on 12 February 2014 and is pending approval.

This announcement is dated 20 February 2014.