At the 51st Annual General Meeting (“AGM”) held on 14 April 2021, the Company had obtained its shareholders’ approval to enter into recurrent transactions of a revenue or trading nature with its related parties (“Shareholders’ Mandate”). The Shareholders’ Mandate will expire at the conclusion of the forthcoming 52nd AGM of the Company to be convened.

Accordingly, the Board intends to seek shareholders’ approval for the renewal of Shareholders’ Mandate at the Company’s forthcoming 52nd AGM.

In addition thereto, the Board wishes to seek the shareholders’ mandate for new recurrent related party transactions of a revenue or trading nature which are necessary for the Group’s day to day operations and are carried out in the ordinary course of business on normal commercial terms which are not detrimental to the minority shareholders of the Company.

The Circular to Shareholders containing information on the said proposals will be issued to the shareholders in due course.

This announcement is dated 17 February 2022.