(Unless otherwise stated, the abbreviations used herein shall have the same meanings as mentioned in the Company's announcement dated 27 October 2023 in relation to the Proposed TOD Lands Acquisition)
Reference is made to the Company's announcements dated 27 October 2023, 26 April 2024, 26 July 2024, 25 October 2024, 25 April 2025, 27 October 2025 and 27 January 2026 in relation to the execution of binding term sheets for the Proposed TOD Lands Acquisition.
The Company wishes to announce that, despite ongoing efforts between the parties, the Proposed TOD Lands Acquisition will not proceed. The binding term sheets entered with the Vendors to discuss and negotiate on the terms of the Definitive Agreements between the parties will lapse upon the expiry of its final extension up to 27 April 2026 as announced on 27 January 2026, as mutually agreed by both parties.
The parties mutually agree to fully release and discharge each other from all their respective obligations and liabilities under, arising from or in connection with the binding term sheets and the Company remains open to revisiting the Proposed TOD Lands Acquisition should suitable opportunities arise in the future. The lapse of the Proposed TOD Lands Acquisition is not expected to have any material financial, operations, legal or risk-related impact on the Company.
This announcement is dated 27 April 2026.