Further to the Company’s monthly announcement dated 1 August 2016 on the status of the Company’s regularisation plan pursuant to PN17 of the Main Market Listing Requirements of Bursa Securities, the Board of Directors of Haisan wishes to inform that Haisan had on 28 July 2016, written to Nadi Nikmat Sdn Bhd (“Purchaser”) to request for an extension of the completion period of the sale and purchase agreement (“SPA”) to 28 October 2016 in order to resolve the notice pursuant to Section 218(2)(a) of the Companies Act, 1965 which was been served on Hai San Ice Industries Sdn Bhd, the wholly-owned subsidiary of Haisan by Messrs. Shook Lin & Bok, who is acting on behalf of Tenaga Nasional Berhad, demanding payment of RM3,224,139.19 (“Notice”).

On 4 August 2016, the Purchaser’s solicitors had written back to Haisan to state that the Purchaser is not withdrawing from the SPA and Tenancy Agreement, however requests for the resolution of the Notice prior to the continuation of the SPA and Tenancy Agreement. Upon the resolution of the Notice, an extension would be granted to complete the SPA and Tenancy Agreement.

On 10 August 2016, the Company had submitted an application to Bursa Securities seeking its approval for an extension period of four (4) months up to 24 December 2016 for the Company to complete the implementation of its Regularisation Plan and the listing of the new Haisan Shares pursuant to the Private Placement and Rights Issue.

The Company will announce further developments on the above matter as and when necessary.

This announcement is dated 1 September 2016.