1.         INTRODUCTION

Malton had on 25 March 2025, entered into a Memorandum of Understanding with Shenzhen Apexls Optoelectronic Co., Ltd (APEXLS) to establish a basis of co-operation and collaboration between the parties (MOU) to commence discussions to jointly assess the potential and market demand for APEXLS's LED products and solutions as well as feasibility of business collaboration between the parties.

APEXLS, a subsidiary of Ledman Optoelectronic Co., Ltd which is listed on the Shenzhen Stock Exchange (Stock Code: 300162), is an integrated manufacturer of LED products covering development, production, marketing and service of all kinds of LED displays with customers in 80 countries and regions. 

2.         STATUS

The Board of Directors of Malton (Board) wishes to announce that the validity period of the MOU, which was in force for a period of 12 months, has expired on 24 March 2026.  Following this, the Board has decided not to pursue further with the MOU.

This announcement is dated 24 March 2026.