Further re proposed disposal

Resource Holding Management Limited

("RHM" or the "Company")

Further re proposed disposal

On 16 November 2010 the Company announced that it had entered into a conditional Sale of Shares Agreement ("SSA") with PUC Founder (MSC) Berhad ("Founder") for the proposed disposal of the entire issued share capital of RedHot Media Group Sdn Bhd, Red Media Asia Limited and Ausscar Group Sdn Bhd, all of which are wholly owned operating subsidiaries of RHM, to Founder (the "Proposed Disposal").

Further to the announcement released by RHM on 19 July 2013, the board of RHM is pleased to announce that Bursa Malaysia Securities Berhad ("Bursa Securities") resolved, on 29 July 2013, to approve the application that was made on 25 July 2013 by Founder for an extension of time in relation to the Proposed Disposal as follows:

(i) an extension of time to 31 December 2013 for Founder to complete the implementation of the Proposed Disposal; and

(ii) a second extension of time for Founder to issue the circular to their shareholders (the "Founder Circular") within 14 days from the date of the approval from The Securities Commission Malaysia to dispatch the independent advice letter which will form part of the Founder Circular in relation to the Proposed Disposal.

A full copy of the announcement released by PUCF on 29 July 2013 is included below.

For further information please contact:

PUC FOUNDER (MSC) BERHAD ("PUCF" OR THE "COMPANY")

(I) PROPOSED ACQUISITION OF THE ENTIRE EQUITY INTEREST IN RED MEDIA ASIA LIMITED ("RMA") COMPRISING A TOTAL OF 8,269,818 ORDINARY SHARES OF USD1.00 EACH FROM RESOURCE HOLDING MANAGEMENT LIMITED (FORMERLY KNOWN AS REDHOT MEDIA INTERNATIONAL LIMITED) ("RESOURCE HOLDING") FOR A TOTAL CONSIDERATION OF RM90.0 MILLION TO BE SATISFIED VIA THE ISSUANCE OF 750.0 MILLION NEW ORDINARY SHARES OF RM0.10 EACH IN PUCF ("SHARES") AT AN ISSUE PRICE OF RM0.12 PER SHARE ("PROPOSED ACQUISITION");

(II) PROPOSED EXEMPTION UNDER PRACTICE NOTE 9 OF THE MALAYSIAN CODE ON TAKE-OVERS AND MERGERS 2010 ("CODE") TO RESOURCE HOLDING AND PERSONS ACTING IN CONCERT WITH IT FROM THE OBLIGATION TO UNDERTAKE A MANDATORY TAKE-OVER OFFER FOR THE REMAINING PUCF SHARES NOT ALREADY HELD BY IT UPON COMPLETION OF THE PROPOSED ACQUISITION ("PROPOSED EXEMPTION");

(III) PROPOSED INCREASE IN AUTHORISED SHARE CAPITAL OF PUCF ("PROPOSED IASC"); AND

(IV) PROPOSED AMENDMENT TO THE COMPANY'S MEMORANDUM AND ARTICLES OF ASSOCIATION ("PROPOSED AMENDMENT")

(HEREINAFTER COLLECTIVELY REFERRED TO AS THE "PROPOSALS").

All definitions used herein shall have the same meanings as the words and expressions defined in the announcement dated 16 November 2010 ("Announcement"), except where the context otherwise requires or where otherwise defined herein.

Reference is made to PUCF's announcements dated 3 May 2013 and 19 July 2013 in relation to the Proposals.On behalf of the Board of Directors of PUCF, Kenanga Investment Bank Berhad ("KIBB") wishes to announce that Bursa Malaysia Securities Berhad ("Bursa Securities") had vide its letter dated 25 July 2013 (which was received on 26 July 2013) resolved to approve PUCF's application for an extension of time as follows:i) An extension of time of up to 31 December 2013 to complete the implementation of the Proposals in relation to the Proposed Acquisitions; andii) The second extension of time to issue the circular to shareholders within fourteen (14) days from the date of the approval to dispatch the Independent Advice Letter which forms part of the circular to shareholders in relation to the Proposals.The above approvals are subject to the condition that PUCF/KIBB to provide written confirmation to Bursa Securities that there has been no material change or development in the circumstances and information in relation to the Proposals prior to the issuance of the circular.This announcement is dated 29 July 2013.