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Mobile-health Network Solutions Enters Definitive Agreement to Acquire PPG and Kuching Data Center Asset
Singapore, Singapore--(Newsfile Corp. - March 20, 2026) - Mobile-health Network Solutions (NASDAQ: MNDR) ("MNDR" or the "Company"), a leading AI HealthTech
About this update from Mobile-health Network Solutions
[{"type":"text","content":"Singapore, Singapore--(Newsfile Corp. - March 20, 2026) - Mobile-health Network Solutions (NASDAQ: MNDR) (\"MNDR\" or the \"Company\"), a leading AI HealthTech platform, today announced that, on March 16, 2026, it entered into a definitive Sale and Purchase Agreement (\"SPA\") to acquire 100% of the issued share capital of PP Grid Sdn. Bhd. (\"PPG\") from Dato' Ling Tiung Leng (Stanley Ling).\nStrategic Acquisition Structure\nThis definitive agreement marks the formal execution of the strategic roadmap established by the Company's Memorandum of Understanding (MOU) dated November 19, 2025, and the Strategic Cooperation MOU dated March 15, 2026.\nUnder the terms of the SPA, MNDR will acquire PPG through a Cayman Islands Special Purpose Vehicle (SPV). PPG will serve as the primary holding vehicle for a minimum 96.5% equity interest in IRIX Properties Sdn. Bhd., which holds the legal and beneficial title to Lot 728, Block 3, Salak Land District (the \"Kuching Land\"). This site is designated for the development and construction of a 25 MW AI-optimized data center.\nKey Transaction Terms and Relationship\n\n\nConsideration: The purchase consideration is US$1,500,000, satisfied by the conversion of the refundable deposit previously rendered by MNDR under the November 2025 MOU.\n\n\nMilestone Progression: This SPA transitions the project from the conceptual \"ProjectCo\" framework mentioned in earlier MOUs to a definitive asset-backed acquisition of PPG and IRIX Properties.\n\n\nConditions Precedent: Completion is subject to the Vendor securing 96.5% of IRIX Shares, obtaining all necessary AI data center permits, and receiving regulatory clearances for Malaysian foreign ownership restrictions.\n\n\nClawback Protection: The agreement includes a clawback mechanism where the Vendor must repay the consideration if warranties are breached or the transfer of IRIX/Kuching Land fails.\n\n\nOperational Integration: Dato' Stanley Ling will provide post-completion assistance for 12 months to support integration and the development of the Kuching Land.\n\n\n\"We are thrilled to enter into this definitive agreement,\" said MNDR Co-CEO Dr. Siaw Tung Yeng. \"This represents a major milestone in our strategic evolution. Having successfully concluded the acquisition framework for the Kuching AI Data Center, we are working closely with Dato' Stanley Lin...