We refer to the news article appearing in The Star today, 4th June 2020, regarding a potential stake sale in the Company.

The Board of Directors of AAGB wishes to advise that the Company has been presented with proposals for it to raise capital to strengthen its equity base and/or liquidity from a number of investment bankers, lenders as well as potential investors to help the Company weather the storm caused by the Covid-19 pandemic. In addition, the Company has ongoing deliberations with a number of parties for joint-ventures and collaborations that may result in additional investments in specific segments of the group's business.

AAGB is currently evaluating these proposals and may soon reach a decision as to the final form (which may be a combination thereof) as well as the amount to be raised. Any decision made will take into account the Company's business needs and the interests of the Company, its shareholders and other stakeholders. The Company is unable to divulge any information at this stage so as not to jeopardise any of the proposals due to the confidential nature of the discussions with the various parties. However, the Company will ensure to make the necessary follow-up announcements as and when appropriate as well as seek the various approvals (if required) in order to undertake such fund raising exercise.

This announcement is dated 4 June 2020.