The Company had at its Tenth Annual General Meeting held on 17 June 2019 obtained the authority from its shareholders to enable the Company and its subsidiaries ("Group") to enter into recurrent related party transactions of a revenue or trading nature which are necessary for the Group’s day-to-day operations as well as for the Company to purchase its own shares of up to ten per cent (10%) of its total number of issued shares ("Shareholders’ Mandates").

The Company intends to seek its shareholders’ approval for the renewal of Shareholders’ Mandates.

In addition thereto, the Board of Directors wishes to seek shareholders’ mandate for new recurrent related party transactions of a revenue or trading nature which are necessary for the Group’s day-to-day operations and are carried out in the ordinary course of business on normal commercial terms which are not detrimental to the minority shareholders of the Company.

A Circular/Statement to Shareholders on the aforementioned proposals will be issued to the shareholders of Kimlun in due course.

This announcement is dated 15 July 2020.