We refer to the announcements dated 16 December 2019, 13 February 2020, 27 March 2020, 22 April 2020, 12 May 2020, 19 May 2020 and 20 May 2020.

The Board of Directors of Seal Incorporated Berhad (“SEAL” or “the Company”) wishes to announce that following from the Adjudication Decision dated 24 February 2020 in Adjudication No. AIAC/D/ADJ-2825-2019 in respect of the interim progress claims by Wabina as the main Contractor to undertake the main building works for a mixed development project on a portion of the land on Lot PT9149, Jalan Sri Permaisuri, Bandar Sri Permaisuri, Wilayah Persekutuan Kuala Lumpur, SPKL filed Originating Summons No. PA-24C-01-03/2020 and Originating Summons PA-24C-02-03/2020 respectively in the High Court of Malaya at Penang to set aside and to stay the Adjudication Decision.

The Company wishes to inform that today, 21 May 2020 was fixed for case management of Originating Summons PA-24C-02-03/2020 by way of e-Review. The Court has fixed the matter for further case management by way of e-review on 2 June 2020 to enable Wabina to file their Affidavit in Reply and for SPKL to file an Application to consolidate the proceedings with Originating Summons No. PA-24C-01-03/2020.

Further material development on the matter will be announced accordingly.

This announcement is dated 21 May 2020.