Design Studio Group Ltd. provided the shareholders of the company with the following update on the Company's progress in respect of the restructuring exercise (‘Restructuring Exercise’). The outbreak of the Covid-19 pandemic and its impact globally has caused disruption to the Group's business and restructuring process. Despite the uncertain and extraordinarily challenging market conditions, the Group has been using its best efforts to (i) carry on the operations of the Group while taking steps to restructure and rationalise the Group's operations to reduce costs and to sell non-core assets; (ii) formulate, negotiate and finalise a restructuring scheme across the multiple jurisdictions that the Group operates in; (iii) obtain financing and investments; and (iv) carry out the restructuring process.