Taste Gourmet Group Limited announced that on 15 March 2023 (after trading hours), the Group through a wholly owned subsidiary entered into an offer letter for the New Lease with the Landlord to open a new Moments Together Restaurant. This will be the Group's fourth Moments Together Restaurant in Hong Kong and Shanghai. The offer letter in respect of the New Lease is still subject to the execution by the Landlord.

To the best of the Directors' knowledge, information and belief having made all reasonable enquiries, as at the date of this announcement, the Landlord is an independent third party of the Company and not connected persons of the Company. The new Moments Together Restaurant is expected to commence operations in Third quarter of 2023. With Hong Kong gradually returning to normal after removing most COVID-19 pandemic imposed social distancing measures, the Board believes that opening new restaurants in high footfall traffic shopping malls such as the Harbour City is in line with the business strategy of the Group and is in the best interest of the Company and the Shareholders as a whole.