KITCHEN CULTURE HOLDINGS LTD.
(Company Registration No: 201107179D)
(Incorporated in the Republic of Singapore on 25 March 2011)
LODGEMENT OF REPORT WITH THE COMMERCIAL AFFAIRS DEPARTMENT
The Board of Directors (the "Board") of Kitchen Culture Holdings Ltd. (the "Company" and together with its subsidiaries, the "Group") wishes to announce that, after taking into consideration the legal advice from the Company's legal counsel, it has on 30 July 2021, through its legal counsel, lodged a police report with the Commercial Affairs Department ("CAD") of the Singapore Police Force in relation to suspected payroll irregularities of approximately S$520,000 arising from the employment of 2 former employees of the Company's wholly-owned subsidiary, KHL Marketing Asia-Pacific Pte. Ltd..
The CAD is now in possession of the relevant documents provided by the Company to assist in its investigations.
The Board and the members of Management will fully co-operate with the relevant authorities if and when needed. The Board will continue to take all necessary actions in the best interests of the shareholders and the Group and will update the shareholders by making further announcements as and when material developments occur in this regard.
By Order of the Board
31 July 2021
This announcement has been reviewed by the Company's sponsor, SAC Capital Private Limited (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "SGX-ST") and the SGX-ST assumes no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made or reports contained in this announcement.
The contact person for the Sponsor is Ms. Lee Khai Yinn (Tel (65) 6232 3210), at 1 Robinson Road, #21-00 AIA Tower, Singapore 048542.
Kitchen Culture Holdings Ltd. published this content on 31 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 August 2021 06:11:04 UTC.