GLXT: CIRCULAR TO SHAREHOLDERS IN RELATION TO THE: (I) PROPOSED ACQUISITION OF 3,500,000 ORDINARY SHARES REPRESENTING 70.0% EQUITY INTEREST IN POWERTECS SYSTEM SDN BHD FROM CHEN SONG WIE AND NG CHUEE CHOO FOR A PURCHASE CONSIDERATION OF RM4,200,000 TO BE SATISFIED VIA A COMBINATION OF CASH AND ISSUANCE OF NEW ORDINARY SHARES IN GLOSTREXT; AND (II) PROPOSED DIVERSIFICATION OF THE EXISTING PRINCIPAL ACTIVITIES OF GLOSTREXT AND ITS SUBSIDIARIES TO INCLUDE TRADING OF ELECTRICAL APPLIANCES, GENERATORS, ALTERNATORS AND OTHER RELATED PRODUCTS (COLLECTIVELY, REFERRED TO AS “PROPOSALS”)