Further to the Company's announcements dated 24 December 2019 and 28 January 2020, the Board of Directors of Cypark Resources Berhad ("the Company" or "CRB") wishes to announce that a 70% owned subsidiary of the Company, Cypark Suria Merchang Sdn. Bhd. (“CSM”), had on 24 June 2020 signed a Large Scale Solar Phase 3 (“LSS3”) Photovoltaic Power Purchase Agreement (“PPA”) with Tenaga Nasional Berhad (“TNB”).

CSM will design, construct, own, operate and maintain a solar photovoltaic energy generating facility with the capacity of 100 MWa.c. (“Facility”) at Marang, Terengganu.

The PPA governs the obligations of CSM and TNB to sell and purchase the energy generated by the Facility to TNB for a period of 21 years from the commercial operation date in accordance with the agreed terms and conditions as stipulated in the PPA.

The signing of the PPA is not expected to have any material impact on the earnings and net assets of the CRB Group for the financial year ending 31 October 2020. However, the PPA is expected to contribute positively to the future earnings of the CRB Group.

None of the Directors or major shareholders of CRB and persons connected with them has any interests, direct or indirect, in the PPA.

The announcement is dated 25 June 2020.