(For consistency purposes, the abbreviations and definitions used throughout this announcement shall have the same meanings as those previously defined in the announcements made on 13 June 2017, 31 October 2017, 17 November 2017, 21 December 2017, 26 April 2018, 2 November 2018 and 7 January 2019.)

Further to the Company's announcements made on 13 June 2017, 31 October 2017, 17 November 2017, 21 December 2017, 26 April 2018, 2 November 2018 and 7 January 2019, the Board of Directors of Luster (‘the Board”) wishes to inform that the Company, had on 1 August 2019, received the sealed court order on the decisions by the Shah Alam High Court in respect of the above suit that following the no appearance having been entered by the First Defendant, the Court had ordered the first defendant to pay to the Plaintiff :-

(a) the sum of RM6 million on a joint and several basis;

(b) exemplary damages to be assessed by this Honourable Court;

(c) interest on (a) above at 5% per annum calculated from 01.12.2016 until full realisation; and

(d) costs on indemnity basis.

The Board also wishes to announce that on 13 November 2019, the Court ordered the following:-

(a) It is hereby declared that the 2nd, 3rd and 4th defendants had breached their fiduciary duties as directors of the plaintiff.

(b) It is hereby declared that the 5th defendant had breached his duties as stakeholder by releasing the stakeholder sums totalling RM6 million to the 1st defendant.

(c) It is hereby ordered that the 2nd, 3rd, 4th and 5th defendants do jointly and severally pay the following sums to the plaintiff:-

     (i) The sum of RM6 million;

     (ii) Exemplary damages of RM200,000.00;

     (iii) Interest on the above sums at 5% per annum calculated from 1 December 2016 until full realisation.

(d) It is hereby ordered that the 2nd, 3rd, 4th and 5th defendants do jointly and severally pay the costs of RM100,000.00 to the plaintiff.

This announcement is dated 14 November 2019.