General Announcement::Clarifications to Documents Released on the SGXNET on 12 July 2022

CHASEN HOLDINGS LIMITED

(Company Registration No.: 199906814G)

(Incorporated in the Republic of Singapore)

CLARIFICATIONS TO DOCUMENTS RELEASED ON THE SGXNET ON 12 JULY 2022

_________________________________________________________________________________

1. The Board of Directors of Chasen Holdings Limited (the "Company") refers to the announcements made on 12 July 2022 on the SGXST in connection with, inter alia, the Notice of Annual General Meeting issued 13 July 2022 ("Notice of AGM"), Annual Report of the Company for the period ended 31 March 2022 ("Annual Report") and Appendix to Shareholders in relation to the proposed renewal of the Share Buyback Mandate ("Appendix") (collectively the "AGM Documents").

Clarification on reference to Shareholder

1. Reference had been made in the AGM Documents to "The Estate of Yap Koon Bee @ Louis Yap, Deceased". Further to the announcement made by the Company on 22 July 2022 ("Notification Announcement"), it is duly noted that shares held previously by "The Estate of Yap Koon Bee @ Louis Yap, Deceased" has now been duly transmitted and are presently held by Yap Beng Geok Dorothy.
2. Accordingly, the Company wishes to clarify the references to "The Estate of Yap Koon Bee @ Louis Yap, Deceased" as set out in the Appendix, specific references and amendments are as set out below (indicated via strike-through and in bold):-

AGM	Paragraph /	Extract
Document	Page
	Reference
Appendix	Page 25	On 12 February 2007, pursuant to a reverse take-over, the
		Company acquired Chasen Logistics Services Limited from
	Paragraph	Low Weng Fatt, Siah Boon Hock, The Estate of Yap Koon
	2.12	Bee @ Louis Yap, DeceasedYap Beng Geok Dorothy, Yeo
		Seck Cheong, and Cheong Tuck Nang. Low Weng Fatt, Siah
		Boon Hock, The Estate of Yap Koon Bee @ Louis Yap,
		DeceasedYap Beng Geok Dorothy, Yeo Seck Cheong, and
		Cheong Tuck Nang (the "Concert Parties") are presumed to
		be acting in concert with each other in relation to the
		Company for the purposes of the Take-over Code.
		As at the Latest Practicable Date, the direct shareholding
		interest of each of Low Weng Fatt and his concert parties,
		Siah Boon Hock, The Estate of Yap Koon Bee @ Louis Yap,
		DeceasedYap Beng Geok Dorothy, Yeo Seck Cheong and
		Cheong Tuck Nang are 13.15%, 2.80%, 9.04%, 4.23% and
		2.05% respectively, amounting to an aggregate of
		approximately 31.27%.

1

AGM

Paragraph /

Extract

Document

Page

Reference

Appendix

Page 26

Before Share

After Share

Paragraph

Buyback

Buyback

2.12. Table

Direct interest

Direct Interest

Column

"Concert

MARKET

No.

of

%

No.

of

%

Parties".

PURCHASE

Shares

Shares

Concert

Parties

The

Estate

35,002,583

9.04

35,002,583

10.05

of Yap Koon

Bee @ Louis

Yap,

Deceased

Yap

Beng

Geok

Dorothy

Before Share

After Share

Buyback

Buyback

Direct interest

Direct Interest

OFF

No.

of

%

No.

of

%

MARKET

Shares

Shares

PURCHASE

Concert

Parties

The

Estate

35,002,583

9.04

35,002,583

9.04

of Yap Koon

Bee @ Louis

Yap,

Deceased

Yap

Beng

Geok

Dorothy

4. In connection with the Annual Report, the relevant references to "The Estate of Yap Koon Bee @ Louis Yap" remain unchanged as the statistics of shareholdings provided at pages 143 to 144 are as at the date of 28 June 2022. However, the Company wishes to inform shareholders that as at 21 July 2022, such shares previously indicated to be held by "The Estate of Yap Koon Bee @ Louis Yap" are now duly held by Yap Beng Geok Dorothy.

2

Clarification on Resolution Reference in the Appendix

5. The Company would like to clarify that there is an inadvertent typographical error in the Appendix in relation to the relevant resolution for the proposed share buyback mandate. The relevant reference and amendment is as follows (indicated via strike-through and in bold):

AGM	Paragraph /	Extract
Document	Page
	Reference
Appendix	Page 6	We refer to (a) the notice of the AGM of the Shareholders of
		Chasen Holdings Limited dated 13 July 2022 convening the
	Paragraph	AGM to be held on 28 July 2022; and (b) Ordinary Resolution
	2.1	No. 98 under the heading "Special Business" set out in the
		Notice of AGM.

1. For clarity and the avoidance of doubt, the relevant Ordinary Resolution under the Notice of AGM for the proposed share buyback mandate is Ordinary Resolution 8.
2. Save as disclosed above, all other information in the AGM Documents remains unchanged. This clarification announcement is supplemental to and should be read in conjunction with the AGM Documents and the Notification Announcement.

By Order of the Board

Low Weng Fatt

Managing Director and CEO

22 July 2022

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