Reference is made to the Company’s announcement dated 17 June 2022 and the announcements stated therein in relation to the above Winding-up Petition.

The Board of Directors of the Company wishes to announce that the High Court of Kuala Lumpur has on 4 October 2022 granted an order to wind up the Company and for the appointment of Dato' Adam Primus as the liquidator of the Company.

The circumstances leading to the Order against the Company was due to the default of outstanding payment of USD38,187,513.33 together with costs awarded by the High Court owing to the Petitioner. The said debt is a Term Loan Facility granted by Maybank International Labuan Branch (“Maybank”) to Dolomite Power-Shandong (HK) Ltd (“DPSHK”), a wholly-owned subsidiary of Dolomite Technology (HK) Limited which in turn is a wholly-owned subsidiary of the Company.

The Directors of the Company are currently seeking the necessary legal advice as to whether an appeal can be lodged against the Winding Up Order to the Court of Appeal and the possibility of seeking a stay of the winding up order.

Further announcement on the development of the above matter will be made to Bursa Securities in due course.

This announcement is dated 4 October 2022.