(Unless otherwise stated, all definitions and terms used in this announcement shall have the same meaning as defined in the announcement dated 17 December 2021 in relation to the Proposed Acquisition of 100% Equity Interest in Benline Investment Holdings Pte. Ltd.)

Reference is made to the earlier announcements dated 17 December 2021 and 31 May 2022 in relation to the Proposed Acquisition.

The Board of Directors of TWPH wishes to announce the mutual termination of the SPA between TWPH and Asia Regal Enterprises Limited.

The SPA is conditional upon, amongst others, the satisfactory due diligence. Notwithstanding the extension of Completion Date, as at the date of this announcement, the necessary document to confirm ownership of the leasehold land and two factories have yet to be obtained.

In view thereof, the Parties have mutually agreed to terminate the SPA on 29 July 2022.

The termination of the SPA is not expected to have material effect on the business, financial and operational of the Company and its subsidiaries. 

This announcement is dated 1 August 2022.