The Board of Directors of Ageson wishes to announce that the Company is unable to release to Bursa Malaysia Securities Berhad ("Bursa Securities") and shareholders its Annual Report that includes the annual audited financial statements together with the auditors’ and directors’ reports in respect of the financial period ended 31 December 2022 (“Annual Report 2022”) within four (4) months from the close of the financial year of the Company which falls on 28 April 2023 as required under Paragraph 9.23(1) of the Main Market Listing Requirements (“MMLR”) of Bursa Securities (“Relevant Timeframe”).

The delay in the issuance of Annual Report 2022 was mainly due to the additional time needed by the Company to identify for suitable Auditors since the resignation of the previous Auditors. The Company has been actively searching for potential new Auditors subsequent to the resignation of predecessor Auditors. The Company has approached a total of 16 potential auditors, and majority of the auditors responses were negative due to resources constraints of the respective firms.

Notwithstanding the above, the Company is still actively searching for potential Auditors to undertake the audit appointment and expects to issue and submit its Annual Report 2022 by October 2023.

Pursuant to Paragraph 9.28(5) of the MMLR, if the Company fails to announce/issue the outstanding Annual Report 2022 within five (5) market days after the expiry of the Relevant Timeframe (the last day of this five (5) market days period is referred to as “Suspension Deadline”) i.e. on 9 May 2023, in addition to any enforcement action that Bursa Securities may take, Bursa Securities shall suspend trading in the securities of the Company. The suspension shall be effected on the next market day after the Suspension Deadline i.e. on 10 May 2023 and will be lifted on the market day following the announcement/issuance of the outstanding Annual Report 2022 unless otherwise determined by Bursa Securities.

Pursuant to Paragraph 9.28(6) of the MMLR, if the Company fails to announce/issue the outstanding Annual Report 2022 within six (6) months from the expiry of the Relevant Timeframes, in addition to any enforcement action that Bursa Securities may take, Bursa Securities shall commence de-listing procedures against the Company.

This announcement is dated 25 April 2023.