The Board of Directors of Advance Information Marketing Berhad (“AIM” or “the Company”) wishes to announce that Mak Siew Wei (“Plaintiff”) had on 28 May 2021, served an unsealed and undated Originating Summons on the Company as one of the 6 Defendants, via its Solicitors, Messrs Wong Kian Kheong.  The other Defendants are:-

1. Dato’ Ir. Lim Siang Chai (1st Defendant);
2. Lee Kean Teong (2nd Defendant);
3. Azizullaili Bin Haji Jalaluddin (3rd Defendant);
4. Ang Huat Keat (4th Defendant); and
5. Dato’ Kang Chez Chiang (5th Defendant).

The Plaintiff’s unsealed Originating Summon relates to the Plaintiff’s allegations of, inter-alia breach of Ace Market Listing Requirements of Bursa Malaysia Securities Berhad, Malaysian Code on Take-Overs and Mergers 2016, Rule on TakeOvers, Mergers and Compulsory Acquisitions read in conjunction with the Capital Market and Services Act 2007 and the Companies Act, 2016 by the Defendants.

The Plaintiff is seeking and claiming the following: -

1. The 1st to 4th Defendants shall cease to hold office as directors of the 6th Defendant upon the appointment of new directors at a meeting of members of the 6th Defendant which shall be called, held and conducted within 14 days from the date of the Order of this Honourable Court;

2. The 1st to 4th Defendants shall be disqualified from acting or holding office as a director of the 6th Defendant, or be concerned with or taking part in the management of the 6th Defendant whether directly or indirectly for a period of 5 years commencing from the date of the Order of this Honourable Court;

3. The Directors appointed at the meeting called, held and conducted in accordance with the Order of the Honourable Court shall investigate or cause to be investigated all transactions relating to the 6th Defendant’s assets, namely 16,369,600 ordinary shares and 1,328,400 warrants in Jiankun International Berhad;

4. The Private Placement proposed by TA Securities Holdings Berhad on behalf of the 6th Defendant on 22.3.2021 be prohibited;

5. Further or alternatively, that any new ordinary share in the 6th Defendant and if any new ordinary share is issued and allotted, such new ordinary share be cancelled;

6. The 1st to 5th Defendants be prohibited from issuing and allotting any new ordinary share in the 6th Defendant and if any new ordinary share is issued and allotted, such new ordinary share be cancelled;

7. The 1st to 5th Defendants do pay compensatory damages, jointly and severally, to the Plaintiff, as assessed by this Honourable Court;

8. The interest at the rate of 5% per annum on the amount of compensatory damages from the date of the Order of this Honourable Court until full settlement of the compensatory damages;

9. Further or alternatively, such as this Honourable Court thinks fit under Section 346(2) of the Companies Act 2016 with the view to bringing to an end or remedying the matters complained of;

10. The costs of this application and all other consequential and incidental costs be paid by 1st to 5th Defendants jointly and severally to the Plaintiff;

11. The interest at the rate of 5% per annum on the costs awarded from the date of award of costs until full payment of costs; and

12. Any further or other relied that this Honourable Court may think just and expedient.

The litigation is not expected to have any material financial and operational impact to the Group.

The Company will make the necessary announcement on further material development of the above matter in due course.

This announcement is dated 2 June 2021.