Sinostar PEC : Extension Of Time To Hold The Company Agm For The Financial Year Ended 31 December 2019

SINOSTAR PEC HOLDINGS LIMITED

(Company Registration No.: 200609833N)

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EXTENSION OF TIME TO HOLD THE COMPANY'S ANNUAL GENERAL MEETING ("AGM") FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2019 ("FY2019")

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The Board of Directors of Sinostar Pec Holdings Limited (the "Company", together with its subsidiaries, the "Group") wishes to inform shareholders of the Company that the Company has made an application to the Singapore Exchange Securities Trading Limited (the "SGX-ST") for an extension of time to comply with the requirement of Rule 707(1) of the SGX-ST Manual to hold its AGM for the FY2019 within four (4) months from the financial year end, i.e. by 30 April 2020 (the "Application"). The Company has requested from the SGX-ST for an extension of time to hold its AGM for the FY2019 no later than 29 June 2020.

The regulatory announcement by the SGX-ST dated 27 February 2020 provides that the SGX-ST will grant an extension of up to 30 June 2020 to issuers holding AGMs to approve their 31 December 2019 financial results, if they fulfil the following criteria:

(i) Their financial year-end is 31 December 2019; and

1. Approval of a similar application Corporate Regulatory Authority or applicable).

The Board confirms that:

for extension of time by the Accounting and other relevant regulatory authorities (where

1. the Company's financial year-end is 31 December 2019;
2. the Company has made an application to the Accounting and Corporate Regulatory Authority for extension of time to (1) hold its AGM by 29 June 2020; and (2) file its annual return by 30 July 2020, under Sections 175(2) and 197(1B) of the Companies Act, Cap. 50;
3. the waiver will not be in contravention of any laws and regulations governing the Company and its constitution; and
4. the Company will issue its annual report to shareholders and the Exchange by 15 April 2020.

The reasons for seeking the Application is for the Company to have more time and flexibility to consider measures to address feedback from shareholders who want to participate in and vote at AGM but may be concerned about attending large-group meetings amid the COVID-19 situation.

The Company will update shareholders on the outcome of the Applications to SGX-ST and ACRA in due course.

By Order of the Board

Zhang Liucheng

Executive Director and Chief Executive Officer