The Board of Directors of SMIS wishes to announce that Exsilio Pte. Ltd. (“Exsilio”), a wholly-owned subsidiary of SMIS, had on 1 December 2022 applied to the Company Registrar of Singapore, Accounting and Corporate Regulatory Authority (“ACRA”) for the striking off of Exsilio pursuant to Section 344 of the Singapore Companies Act 1967 (“Proposed Striking Off”).

Exsilio had ceased its operation and became dormant since 31 December 2020, and the Proposed Striking Off will reduce the administrative resources and costs to be incurred for maintaining the dormant subsidiary.

The Proposed Striking Off is not expected to have any material effect on the earnings per share, net assets per share, gearing, share capital and substantial shareholders’ shareholding of the Company and its subsidiaries for the financial year ending 31 December 2022.

None of the Directors, major shareholders of the Company and/or persons connected with them has any interest, whether direct or indirect in the Proposed Striking Off.

This announcement is dated 1 December 2022.