The Board of Directors of the Company wishes to announce that the Company proposes to seek shareholders’ approval to renew the Shareholders’ Mandate for recurrent related party transactions at the forthcoming Annual General Meeting of the Company to be convened, in order for the Company and its subsidiaries to continue enter into recurrent related party transactions of a revenue or trading nature with the relevant related parties, provided that such transactions are made at arm’s length, in the ordinary course of business, on terms which are not more favorable to the related parties than those generally available to the public and are not to the detriment of the minority shareholders of the Company (“Proposed Renewal of Shareholders’ Mandate”).

A circular in relation to the Proposed Renewal of Shareholders’ Mandate will be issued to the shareholders in due course.

This announcement is dated 27 February 2020.