Country Heights Holdings Berhad (“CHHB”) would like to announce that its subsidiary, Golden Horse Palace Berhad (“GHPB”) has on 22 November 2021 obtained a Court Order to call for Creditor’s Meeting (hereinafter “the Creditors’ Meeting”) pursuant to Section 366 (1) of the Companies Act 2016 (hereinafter “the Act”) for the purpose of taking into account and if deemed appropriate, to approve with or without modification, a proposed scheme of arrangement and compromise between GHPB and its Creditors (“the Scheme Creditors”). The Creditors’ Meeting is to be held within three (3) months of the date of the Court Order.

Pursuant to Section 368(1) of the Act, all proceedings in any action and/or any proceedings against the GHPB including but not limited to the enforcement of any security, winding up proceedings and any execution proceedings against GHPB and/or any appointment of receiver and/or manager over GHPB’s assets, be restrained for a period of three (3) months from the date of the Court Order hereof except with leave of Court and subject to any terms as the Court may impose.

This announcement is dated 24 November 2021