Unless stated otherwise, the terms used herein shall carry the same meaning as those defined in the Circular dated 23 February 2023 in relation to the Proposed Listing.

We refer to the earlier announcements dated 26 August 2021, 24 December 2021, 26 January 2022, 27 January 2023, 17 March 2023 and 3 July 2023 in relation to the Proposed Listing.

The Board wishes to announce that in view of the prevailing market conditions in the Singapore equity market, the Board and the directors of LYCSG have resolved to withdraw the Proposed Listing from the Catalist board of the SGX-ST ("Withdrawal").

The Withdrawal is not expected to have any material impact on the consolidated earnings per share and net asset per share of the Company for the FYE 31 March 2025.

Notwithstanding the Withdrawal, the Board is considering on the possibility of listing LYCSG in other exchanges, subject to evaluation on the listing suitability and structure by advisers to be appointed. Having considered all aspects, the Board is of the opinion that the Withdrawal is in the best interest of the Company.

This announcement is dated 12 June 2024.