The Board of Directors of PNE wishes to inform that PNE intends to seek its shareholders' approval on the proposed amendments to the Constitution of the Company ("Proposed Amendments") at the forthcoming Thirty-Third Annual General Meeting ("AGM") of the Company.

The Proposed Amendments is primarily to align the Company’s Constitution with the Companies (Amendment) Act 2019 which came into operation on 15 January 2020 in relation to the alteration of share capital, to provide clarity on the objects of the Company and to enhance administrative efficiency.

The details of the Proposed Amendments will be announced and published on the Company's website in due course.

This announcement is dated 23 July 2021.