Natural Cool : Receipt Of Special Notice

(Incorporated in the Republic of Singapore) Company Registration No. 200509967G

This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor"), for compliance with the Singapore Exchange Securities Trading Limited (the "SGX-ST") Listing Manual Section B: Rules of Catalist. The Sponsor has not independently verified the contents of this announcement.

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

The contact person for the Sponsor is Mr Thomas Lam, Associate Director, Continuing Sponsorship, at 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, telephone [phone].

RECEIPT OF SPECIAL NOTICE PURSUANT TO SECTION 152(2) READ WITH SECTION 185 OF THE COMPANIES ACT, CHAPTER 50 OF SINGAPORE (THE "COMPANIES ACT")

The Board of Directors (the "Board") of Natural Cool Holdings Limited (the "Company" and together with its subsidiaries, the "Group") refers to its announcements dated 9 December 2016, 15 December 2016 and 22 December 2016 (the "Previous Announcements") in relation to, amongst others, the 2nd EGM. Unless otherwise defined, capitalised terms and references used herein shall bear the same meanings ascribed to them in the Previous Announcements.

The Board wishes to announce that the Company had on 9 January 2017 received a letter dated the same date (the "Special Notice") from Mr. Ong Mun Wah ("Mr. Ong") and Ms. Edi Ng ("Ms. Ng"), constituting a special notice under Section 152(2) read with Section 185 of the Companies Act of the intention of Mr. Ong and Ms. Ng to convene an extraordinary general meeting of the Company ("EGM") to vote on the following resolutions (the "Proposed Resolutions"):

1. That Joseph Ang Choon Cheng be removed from his office as a Director of the Company with effect from the date of the EGM.

2. That Eric Ang Choon Beng be removed his office as a Director of the Company with effect from the date of the EGM.

3. That Lim Siang Kai be removed his office as a Director of the Company with effect from the date of the EGM.

4. That Wu Chiaw Ching be removed his office as a Director of the Company with effect from the date of the EGM.

5. That William da Silva be removed his office as a Director of the Company with effect from the date of the EGM.

6. That Lau Lee Hua be appointed as a Director of the Company with effect from the date of the EGM.

7. That Tan Siew Bin Ronnie be appointed as a Director of the Company with effect from the date of the EGM.

8. That Goh Teck Sia be appointed as a Director of the Company with effect from the date of the EGM.

9. That Wong Leon Keat be appointed as a Director of the Company with effect from the date of the EGM.

The Special Notice provides that Mr. Ong and Ms. Ng are making arrangements for the meeting venue and all other administrative matters in relation to the EGM and will update the Company accordingly.

A copy of the Special Notice is attached to this announcement solely for Shareholders' reference.

Shareholders should note that Mr. Ong and Ms. Ng were the 2nd EGM Requisitioning Members who called the 2nd EGM held on 22 December 2016 to revoke the Share Issue Mandate. Please refer to the Previous Announcements for background on Mr. Ong and Ms. Ng as well as for more information on the 2nd EGM. As at the date of the Special Notice, Mr. Ong and Ms. Ng collectively owned more than 10.0% of the Company's issued share capital.

The Board would like to highlight to Shareholders that the Special Notice contemplates a complete removal and replacement of the entire Board (with the exception of Mr. Tsng Joo Peng), but does not specify the background and the role which each proposed new director of the Company is to undertake as part of the proposed new board. Subject to legal advice, the Board will provide its views on the Proposed Resolutions and the potential risks that the Company may face as a result of the Proposed Resolutions in due course. The Board will also provide updates to Shareholders as and when there are material developments on this matter. In the meantime, Shareholders are advised to read this announcement and any further announcements by the Company carefully. Shareholders are advised to refrain from taking any action in respect of their securities in the Company which may be prejudicial to their interests, and to exercise caution when dealing in the securities of the Company. In the event of any doubt, Shareholders should consult their stockbrokers, bank managers, solicitors, accountants or other professional advisers. By Order of the Board

Leaw Wei Siang Company Secretary 10 January 2017

About Natural Cool Holdings Limited

Established in 1989 and listed on Catalist (formerly known as SESDAQ) in May 2006, Natural Cool provides installation, maintenance, repair and replacement services for air-conditioning systems to the residential segment, both public and private; and commercial sectors, which include factories, offices, condominiums, schools and hospitals, in Singapore. In addition, the Group sells air-conditioning components and tools used for the installation and servicing of airconditioning business.