Reference is made to the Company’s announcements dated 14 January 2022, 3 February 2022, 1 March 2022, 1 April 2022, 5 May 2022 and 1 June 2022 (“Announcements”).

(Unless otherwise stated, the words and abbreviations used herein shall have the same meaning as those defined in the Announcements.)

Pursuant to paragraph 4.1(c) of PN17 of the Main LR, the Board of Directors of the Company wishes to announce that the Company is in the midst of formulating a regularisation plan to address its financial condition.

The Company has approximately 6 months to submit its regularisation plan to the relevant regulatory authorities for approval to implement the same, and shall make the necessary announcement(s) with regard to the development thereof accordingly.

This announcement is dated 1 July 2022.