The Board of Directors of the Company wishes to announce that the Company proposes to obtain shareholders' approval for a Proposed Renewal of Authority for the Company to purchase its own ordinary shares of up to ten percent (10%) of its total number of issued shares ("Proposed Share Buy-Back") at the forthcoming Seventeenth Annual General Meeting of the Company.

At the Sixteenth Annual General Meeting of the Company held on 17 July 2020, the shareholders of the Company had granted a mandate for the Company to purchase up to 10% of its own ordinary shares.

A Statement to Shareholders of the Company containing the details in relation to the Proposed Share Buy-Back will be distrubuted to shareholders together with the Annual Report of the Company for the financial year ended 31 December 2020.

This announcement is dated 11 May 2021.