We refer to the Company’s announcements dated 2 August 2021 and 3 August 2021 respectively in relation to the Provision of Financial Assistance to Offspring. Unless otherwise stated, the definitions and terms used herein shall have the same meaning as defined in those announcements.

The Board of Directors (“Board”) of SEDANIA wishes to announce that it has received a request from Offspring, to allow for an extension of six (6) months i.e. on or before August 2022 for the repayment of up to RM1.0 million from the one-off loan of RM1.35 million previously granted to Offspring by the Company. Offspring has made the said request to facilitate its immediate working capital needs whilst awaiting for trade finance arrangements from the financial institutions. All terms and conditions of the Loan Agreement shall remain in full force and effect, save and except for the date of repayment.

The Board of SEDANIA (with the exception of the interested directors) has on 28 February 2022 approved the said request from Offspring.

The addendum to the Loan Agreement (“Addendum”) is not subject to the approval of the Company’s shareholders or any other regulatory authorities.

The Addendum is not expected to have any effect on the share capital or the substantial shareholders’ shareholdings of SEDANIA and is not expected to have any material effect on the earnings per share, net assets per share and gearing of SEDANIA for the financial year ending 31 December 2022.

The Company will make further announcement as and when there is any material development on the above matter.

This announcement is dated 2 March 2022.