Reference is made to the circular to shareholders dated 16 November 2015 and announcement on 15 December 2015.

The Board of Directors of Metrod (“Board”) is pleased to announce that The Leela Goa, located at Cavelossim Village, Salcete Taluka, South Goa District, Goa, India, owned by Ceres Hotels Private Limited, which is in turn a 51%-owned by Metrod’s wholly-owned subsidiary, Metrod Holdings (Singapore) Pte. Ltd., had on 7 April 2022 entered into an Operating Agreement with Marriott International, Inc. (“Operator”) to engage the Operator to supervise, direct and control the operation of the Hotel and carry on the Hotel business in accordance to the terms and conditions stated in the Operating Agreement.

 The Hotel will undergo rebranding from “The Leela Goa” to “St. Regis Goa” and the strategic conversion to reflect the St. Regis design philosophy.

The Board believes the rebranding exercise is in the best interest of the Company. 

None of the Directors and/or Major Shareholders and/or persons connected to them, has any interest, direct or indirect, in the Operating Agreement.

Metrod does not expect any material impact on the profitability for the financial year ending 31 December 2022, from the rebranding exercise.

This announcement is dated 8 April 2022.