The Board of AEON Stores (Hong Kong) Co., Limited announced that on 31 May 2024, the Company and AEON Credit entered into the License Agreement pursuant to which the Company gives AEON Credit the right to use the Shop for a fixed term of one year from 1 June 2024 to 31 May 2025 at the License fee of HKD 251,919 per month exclusive of rates and management fees. Reference is made to the Company's announcement dated 30 March 2023 in respect of the previous License agreement pursuant to which the Company gave AEON Credit the right to use the Shop for a fixed term of one year from 1 April 2023 to 31 March 2024. Since the parties were negotiating the terms and conditions for the new License agreement pending the Company's renewal of the lease of the Premises, the parties entered into a short-term License agreement based on the same terms and conditions of the previous licence agreement except that the duration was for the period from 1 April 2024 to 31 May 2024 with a total payment of HKD 540,687 for the License fees, management fees, government rates and utilities charges payable by AEON Credit to the Company.

The short-term License agreement constituted de minimis transaction pursuant to Rule 14A.76(1) of the Listing Rules. The Company has entered into a renewal offer with the landlord's agent, which is an independent third party, to lease the Premises (in which the Shop is located) and has been given the express right to grant License to licensees for the use of portions of the Premises including the Shop.