Further to the announcements made on 2 December 2019 (“Initial Announcement”), 10 December 2019, 30 March 2020 and 13 April 2020 in relation to the above subject matter.

Unless otherwise stated, all abbreviations and definitions used throughout this announcement shall  have the same meanings as defined in the Initial Announcement.

The Board wishes to announce that EZII has on 1 July 2020 issued a notice of termination (“Notice”) to CZC informing CZC that EZII no longer intend to proceed with the Agreement and therefore served CZC a notice of termination pursuant to Section 3.2(ii) of the Agreement.

The termination of the Agreement is due to Ewein has yet to be able to obtain the approval as stated under Section 3.1.1(ii) of the Agreement by the shareholders of Ewein, for the approval and authorization to enter into the Agreement and for the performance, execution and delivery of EZII’s covenants and obligations as contained in the Agreement, in an Extraordinary General Meeting which should have been convened within three (3) months from the date of the Agreement with an extension of one (1) month which was due on 31 March 2020.

Pursuant to this termination, CZC shall refund EZII all monies which EZII has paid in accordance with the Agreement within sixty (60) business days from the date of the Notice.

This announcement is dated 1 July 2020.