Waiver :: Application For Waiver With SGX-ST And Extension Of Time To Hold AGM For FY2018

AGV GROUP LIMITED

(Company Registration No. 201536566H)

(Incorporated in the Republic of Singapore on 2 October 2015)

APPLICATION FOR WAIVER TO COMPLY WITH RULES 707(1) AND 707(2) OF SECTION B: RULES OF CATALIST OF THE LISTING MANUAL OF THE SINGAPORE EXCHANGE SECURITIES TRADING LIMITED (THE "SGX-ST") (THE "CATALIST RULES") AND EXTENSION OF TIME TO HOLD ITS ANNUAL GENERAL MEETING ("AGM")

The Board of Directors of AGV Group Limited (the "Company" and together with its subsidiaries, the "Group") wishes to announce that the Company through its Sponsor, has today applied to the SGX-ST for a waiver from Rules 707(1) and 707(2) of the Catalist Rules and for an extension of two (2) months for its AGM to be held in respect of the financial year ended 30 September 2018 ("FY2018") by 31 March 2019 (the "Extension").

The reasons for seeking the Extension are as follows:

• (i) Further to the Company's earlier application to the SGX-ST as announced on 30 November 2018 in relation to the waiver to comply with Rule 705(1) of the Catalist Rules and extension of time to release its unaudited financial statements for FY2018, where the Company had informed the SGX-ST that the Company's Auditors had only just commenced fieldwork, the Company wishes to inform the SGX-ST that the Auditors have since completed their fieldwork recently. The Company however wishes to add that the fieldwork had taken longer than expected to complete due to the major time loss from the December holiday period. In light of the upcoming Chinese New Year holidays and work to be done, the Auditors would only be able to finalise and issue their audit report in late February 2019.

• (ii) Upon receipt of the finalized audit report for FY2018, the Company would also require some time to prepare, proofread, perform accuracy checks, print and distribute its annual report to the shareholders, as well as take into account the requisite notice period prior to the holding of its FY2018 AGM.

• (iii) In view of the issues raised above, the Company is unable to complete its audit for FY2018 and make the necessary preparations to hold its AGM by 31 January 2019 but expects to be able to do so at the latest by 31 March 2019.

The Company will announce the outcome of the application for the Extension in due course.

BY ORDER OF THE BOARD

Albert Ang Nam Wah

Executive Director and Chief Executive Officer AGV Group Ltd.

17 January 2019

This announcement has been prepared by the Company and its contents have been reviewed by the Company's Sponsor, Hong Leong Finance Limited, for compliance with the relevant rules of the SGX-ST. The Sponsor has not independently verified the contents of this announcement.

This announcement has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made or reports contained in this announcement.

The contact person for the Sponsor is Mr Tang Yeng Yuen, Vice President, Head of Corporate Finance who can be contacted at 16 Raffles Quay, #01-05, Hong Leong Building, Singapore 048581, Telephone: [phone].