Unless otherwise defined, the definitions set out in the previous announcements in relation to the Proposed Disposal shall apply herein.

Reference is made to the previous announcements dated 28 August 2019 and 31 December 2019 pertaining to the Proposed Disposal of Borsig ZM Compression GmbH by Borsig GmbH (“Proposed Disposal”).

The Company wishes to inform that, after several discussions and negotiations, the Purchaser failed to fulfill the payment schedule under the agreed terms of the contract, hence the Seller has decided to terminate the Proposed Disposal.