We refer to our announcements dated 22 December 2023, 2 February 2024, 14 March 2024, 13 May 2024, 17 May 2024, 23 May 2024, 29 May 2024 and 12 June 2024 in relation to the Statutory Demand and Petition. Unless otherwise defined, all definitions used throughout this announcement shall have the same meaning as defined in our said earlier announcements.

The Board of the Company wishes to inform that the Petitioner and the Respondent have achieved a settlement, and the Petitioner will be seeking leave from Court to withdraw the Petition without liberty to file afresh, without any order as to costs. The Petitioner will also be seeking leave to obtain an order for a refund of the deposit sum.

Additionally, the Petitioner has requested the Court to convert the decision date which was fixed on 9 August 2024 as a Case Management date via Zoom for parties to update the Court on the aforementioned developments.

The Company will make the necessary announcements to Bursa Malaysia Securities Berhad as and when there are further developments in relation thereof and/or upon receipt of any further directions by the Court.

This announcement is dated 31 July 2024.