Cogia AG: Cogia AG Announces Planned Acquisition of 51% Stake in Cogia GmbH by VCI Global

Frankfurt am Main (pta020/29.06.2023/11:01 UTC+2)

Cogia AG (ISIN DE000A3H2226) announces that VCI Global Limited (NASDAQ: VCIG) ("VCI Global") has signed a letter of intent to acquire a 51% stake in Cogia GmbH, the wholly owned subsidiary of Cogia AG, for a purchase price of USD 5 million.

The purchase price is to be settled through the issuance of new VCI Global common shares to Cogia AG.

VCI Global is a multi-disciplinary consulting group based in Kuala Lumpur, Malaysia. Its consulting focus is in the areas of business and technology. The company offers corporate and boardroom strategy services as well as investor relations and technology consulting.

"We at VCI Global feels that AI is the way of the future. This proposed acquisition will further entrench VCI Global's footprint on global AI related industries and services with the offering of unprecedented AI-enhanced technologies and consultancy services. We also considered Cogia as an ideal partner given the exceptional business opportunities and synergies, fuelled by our common visions. The strong positive feedbacks from capital markets merely endorse our decision to expedite this partnership now through a merger. This merger represents a pivotal moment, propelling us to greater heights," said Dato' Victor Hoo, Group Executive Chairman and Chief Executive Officer of VCI Global.

"Excited to amplify our partnership with VCI Global through this strategic 51% acquisition, harnessing their financial expertise and core customer connections to fuel our global growth, with a sharp focus on dominating the Asian market," said Pascal Lauria, Founder and Chief Executive Officer of Cogia GmbH.

The transaction is still subject to the approval of the relevant authorities and the final agreement and signing of the contracts.

Aboout Cogia GmbH

Cogia GmbH is a software company based in Frankfurt am Main, Germany, founded in 2010. The company offers AI-based, fully privacy-compliant solutions in the areas of secure communications, cybersecurity, Big Data Analytics and web monitoring. The customer portfolio includes major companies from many industries, including Volkswagen, BMW, IPSOS, Lufthansa and the government of an EU state.

About VCI Global Limited

VCI Global is a multi-disciplinary consulting group with key advisory practices in the areas of business and technology. The Company provides business and boardroom strategy services, investor relation services, and technology consultancy services. Its clients range from small-medium enterprises and government-linked agencies to publicly traded companies across a broad array of industries. VCI Global operates solely in Malaysia, with clients predominantly from Malaysia, but also serves some clients from China, Singapore, and the US.

For more information on the Company, please log on to https://v-capital.co/.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements that are subject to various risks and uncertainties. Such statements include statements regarding the Company's ability to grow its business and other statements that are not historical facts, including statements which may be accompanied by the words "intends," "may," "will," "plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential" or similar words. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the Company's ability to achieve profitable operations, customer acceptance of new products, the effects of the spread of Coronavirus (COVID-19) and future measures taken by authorities in the countries wherein the Company has supply chain partners, the demand for the Company's products and the Company's customers' economic condition, the impact of competitive products and pricing, successfully managing and, general economic conditions and other risk factors. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any responsibility to update the forward-looking statements in this release, except in accordance with applicable law.

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Emitter:	Cogia AG Poststraße 2-4 60329 Frankfurt am Main Germany
Contact Person:	Pascal Lauria
Phone:	+49 69 264 8485 11
E-Mail:	info@cogia.de
Website:	www.cogia.ag
ISIN(s):	DE000A3H2226 (Share)
Stock Exchange(s):	Free Market in Dusseldorf (Primärmarkt)