EXTENSION OF TIME TILL 30 AUGUST 2021 TO HOLD THE ANNUAL GENERAL MEETING ("AGM") OF ADDVALUE TECHNOLOGIES LTD (THE "COMPANY") PURSUANT TO RULE 707(1) OF THE SINGAPORE EXCHANGE SECURITIES TRADING LIMITED ("SGX-ST") (THE "EXTENSION")

Pursuant to Rule 707(1) of the Listing Manual of the SGX-ST, a listed company must hold its AGM not later than four (4) months after the end of its financial year. Accordingly, the Company is required to hold its AGM by 31 July 2021 in respect of its financial statements for the financial year ended 31 March 2021 ("FY2021").

The Board of Directors of the Company (the "Board") hereby announce that the Company has written to the SGX-ST to seek its waiver (the "Waiver") in allowing the Company an additional month to:

  1. complete and issue the audit report and financial statements of the Company for FY2021 together with the annual report and notice of AGM; and
  2. convene and hold the AGM.

The above-mentioned extension of time to convene the Company's AGM, if granted, will enable the Company to confirm certain funding arrangements that have been delayed due in part to the recent escalation in the global Covid-19 situation and are now in advance stage of completion, and the certainty of which is important to be taken into account and factored in the audit report and the financial statements of the Company for FY2021 so as to more accurately reflect the true and fair view of the financials of the Company.

Upon the receipt from the SGX-ST of the Waiver, if granted, we will immediately apply to the Accounting and Corporate Regulatory Authority ("ACRA") for a similar extension of time to hold the AGM under Section 201 of the Companies Act.

We will keep the shareholders of the Company updated on the outcome of the application for the Extension.

BY ORDER OF THE BOARD

Dr Colin Chan Kum Lok

Chairman and CEO

13 July 2021

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Addvalue Technologies Limited published this content on 13 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 July 2021 14:36:08 UTC.