Reference is made to  the Company’s announcements dated 5 November 2019, 2 December 2019 and 2 January 2020 in compliance with the GN3 of the Listing Requirements and an announcement dated 3 January 2020 in respect of the Company being granted an extension of time until 2 July 2020 to submit  the regularisation plan to the relevant authorities for approval subject to the Company's appointment of the Sponsor within 3 months i.e. on or before 2 April 2020.

At this juncture, the Company is in active discussion for the appointment of a potential Sponsor and Principal Adviser to assist the Company with its proposed regularisation plan.

The Company is also in the midst of formulating its proposed regularisation plan.

Save as disclosed above, there are no other material developments on the proposed regularisation plan.

This announcement is dated 3 February 2020.