Further to the Company’s announcements dated 17 October 2019, 13 November 2019, 14 November 2019 and 22 November 2019, the Board of Directors of Perisai wishes to announce that a Case Management was held on 10 December 2019 and the issues addressed were as follows:-

i) the next Case Management of the main suit has been fixed on Thursday, 16 January 2020 before the Admiralty Judge to update the Court whether the pleadings have been exhausted.

ii) The Judge directed that the exchange of affidavits on AWH’s Striking Out Application (“Enclosure 21”) as follows:-

     a) the written submissions (written arguments) on Enclosure 21 be filed and served by Monday, 30 December 2019;

     b)  the written submissions in reply on Enclosure 21 be filed and served by Monday, 13 January 2020; and

     c) the hearing of Enclosure 21 be fixed for Thursday, 16 January 2020.

Further to the above, the Board of Directors of Perisai wishes to announce that Messrs Christopher & Lee Ong, the Solicitors acting on behalf of Emas Victoria (L) Bhd (“EVLB”) had on 16 December 2019 filed the Statement of Defence and Counterclaim of EVLB, among others, for the following:-

i) dispute the Plaintiff’s right to invoke the Honourable Court’s admiralty jurisdiction and/or set aside the Writ dated 19 September 2019 and/or strike out the Plaintiff’s claim;

ii) seek an indemnity and/or contribution against AWH for any losses that it may suffer following the Plaintiff’s claim; and

iii) seek further and better particulars and/or interrogatories of the Plaintiff’s claim.

The Counterclaim includes as follows:-

i) Plaintiff’s claim to be dismissed;

ii) Writ and Warrant of Arrest to be set aside;

iii) Costs incurred by EVLB in this action;

iv) Damages for the wrongful arrest of the Vessel to be assessed by the Admiralty Registrar;

v) Damages for the tort of wrongful continuation of the arrest of the Vessel to be assessed by the Admiralty Registrar; and

vi) Costs that have been incurred due to the frivolous nature of the Plaintiff’s claim.

Further announcement(s) on any material development on the above will be made to Bursa Malaysia Securities Berhad in due course.

This announcement is dated 17 December 2019.