The Board of Directors of Spindex Industries Limited announced that its Shanghai plant in China will be temporarily closed as directed by the local Shanghai authority. The factory is only expected to resume operations on 2nd April 2022. The Group's supply chain and customers that are exposed any Shanghai city closures will also be affected.

The extent of any financial impact is not possible to ascertain at the moment as the situation remains fluid. However, it is expected to have a negative impact on the financial performance of the Group in FY2022. The Company is closely monitoring the situation and shall keep shareholders informed of any material developments as and when they arise.