Reference is made to the Company’s announcements dated 7 October 2021, 22 October 2021, 11 November 2021, 30 November 2021, 7 December 2021, 21 December 2021, 14 March 2022 and 17 March 2022.

The Liquidators wish to update shareholders that, during the case management for Motion 626 on 1 April 2022, counsels for the Liquidators and for Raintree respectively addressed the learned Judicial Commissioner on the outcome of the clarification before the Court of Appeal, whereby in essence, if Raintree wishes to file any further affidavit or cause papers under Motion 626, it has to seek leave from the High Court by filing a formal application. The Judicial Commissioner has then directed Raintree to file the formal application, if any, by 15 April 2022. Subsequently, the parties shall file their respective affidavits in reply by the stipulated timeline and the hearing of Raintree’s application (if filed) is fixed on 23 May 2022 at 9a.m.

The High Court has also rescheduled the hearing date for Motion 626 (initially fixed on 30 May 2022) to 17 June 2022 at 9a.m.

Further update will be provided in due course.

This announcement is dated 4 April 2022.