This announcement should be read in conjunction with the earlier announcements made on 22 November 2022 and 2 December 2022 in relation to the JVA (“Earlier Announcements”). Unless otherwise defined, the terms used in this announcement shall have the same meaning as those defined in the said Earlier Announcements. 

The Board of Directors of Axteria wishes to inform that Condition Precedent has not been met prior to the end of the Extended Condition Period. Accordingly, ADSB and AAPSB had on 24 July 2024, mutually agreed to terminate the AAPSB JVA. Following the termination of the AAPSB JVA, the agreement is null and void and the parties shall have no further claims against each other.

The Termination will not have any effect on the issued share capital and substantial shareholders’ shareholdings of Axteria and is not expected to have any material effect on the net assets per share and earnings per share as well as gearing of Axteria Group for the financial year ending 31 December 2024.

This announcement is dated 24 July 2024.