We refer to the Company’s announcements on 3 August 2022 and 5 August 2022.

The Board of Directors of the Company wishes to announce that the Company and its directors had on 5 August 2022 filed an Originating Summons in the High Court at Kuala Lumpur against UOB Kay Hian Nominees (Asing) Sdn Bhd and Best Venture Capital Sdn Bhd pursuant to section 211 read together with section 311 of the Companies Act 2016 and Article 111 of the Constitution of the Company (“ILB Originating Summons”) for the reliefs as set out below.

(1) Declaration that the notice dated 2 August 2022 issued by the 1st and 2nd Defendants to ILB addressed to the 2nd to 8th Plaintiffs as directors of ILB (‘Requisition Notice’) requisitioning the 2nd to 8th Plaintiffs to convene an extraordinary general meeting of ILB (‘Proposed EGM’) pursuant to section 311 of the Companies Act 2016 is invalid, wrongful, unconstitutional and unlawful.

(2) Declaration that the Plaintiffs (namely ILB and its directors) are not obliged in law to convene the Proposed EGM in that the Proposed EGM and the proposed resolution to be passed at the Proposed EGM (‘Proposed Business’) is not within the competence of the members of ILB to be passed or transacted at the Proposed EGM.

(3) An order as to costs occasioned by the ILB Originating Summons be borne personally by the Defendants, jointly and/or severally, and paid to the Plaintiffs on an indemnity basis.

(4) Such further order or relief as the Court shall deem fit and proper.

Further announcements will be made from time to time in respect of any material developments of this matter.

This announcement is dated 8 August 2022.