The Board of Directors of WINTONI GROUP BERHAD (“WINTONI” or “Company”) wishes to announce that the Company had on 27 February 2020 disposed of its 100% equity interests comprising of 5,010,000,000 ordinary shares in PLANET WIRELESS HOLDINGS LIMITED, a wholly-owned subsidiary of the Company, for a total cash consideration of US DOLLAR ONE ONLY (USD1.00)( “Disposal”).

PLANET WIRELESS HOLDINGS LIMITED (Company No: 2117848)(“PWHL”) is a company incorporated in Anguilla on 20 February 2008, under the International Business Companies Act Section 11 and having its registered office at P.O.Box 850, Offshore Incorporate Centre, The Valley, British West Indies, Anguilla . The Company is currently in the business of provision for Mobile Application Gateway and Mobile Internet Platform Services but has ceased operations. PWHL has as the date hereof an authorized share capital of USD10,000,00.00 divided into 5,010,000,000 ordinary shares of USD0.0001 par value each of which have been issued and fully paid-up or credited.

Subsequent to the Disposal, PWLH would cease to be a subsidiary of WINTONI.

The rationale for the Disposal is to dispose the non-operating subsidiary and to reduce the cost associated in maintaining the non-operating indirect subsidiary of the Company. The Disposal will enable WINTONI to channel the Group’s resources into other business activities that are anticipated to be more promising.

The Disposal will not have any material effect on the issued and paid up share capital, substantial shareholders’ shareholding, earnings per share, net assets per share and gearing of the WINTONI. PWHL is not a major subsidiary of WINTONI.

None of the Directors and/or major shareholders of the Company and/or persons connected with them have any interest, direct or indirect, in the Disposal.

Having considered all aspects of the Disposal, the Board of Directors of WINTONI is of the opinion that the Disposal is in the best interest of the Company.

This announcement is dated 10 March 2020.