Further to the Company’s announcements made on 19 July 2022 and 10 August 2022, the Board of Directors of Citaglobal Berhad (formerly known as WZ Satu Berhad) (“Citaglobal” or “the Company”) wishes to inform that the High Court Judge has dismissed the Company’s claim against the defendants, namely Dato’ William Tan Chee Keong and Choi Chee Ken (“Defendants”) in Suit 354.

Pursuant thereof, the High Court Judge, YA Puan Alice Loke Yee Ching (“High Court Judge”), has allowed the claim of the Defendants against the Company in Suit 469, whereby, the Court made a declaratory order that WZS Binaraya Sdn. Bhd. have achieved the Guaranteed Profit and Guaranteed Shareholders’ Fund (“Order”).

The High Court Judge also ordered that the Trustee, namely Pacific Trustees Berhad to release the Security Shares, Bonus Shares, Warrants and Dividends to the Defendants in accordance to their entitlement of shares within 14 days from the service of the Order.

The High Court Judge did not order any damages to be paid by the Company to the defendants and made an award of cost for the total sum of RM70,000 to be paid by the Company to the Defendants for both the cases.

The Company has 30 days from today to lodge an appeal against the above-mentioned decision.

The Order and the High Court decision will not have any material financial effects to the Group.

This announcement is dated 19 August 2022.