Waiver :: Approval From The Singapore Exchange Securities Trading Limited For Extension Of Time To Hold AGM

YONGNAM HOLDINGS LIMITED

(the "Company")

(Company Registration No. 199407612N)

(Incorporated in the Republic of Singapore on 19 October 1994)

APPROVAL FROM THE SINGAPORE EXCHANGE SECURITIES TRADING LIMITED FOR EXTENSION OF TIME TO HOLD THE ANNUAL GENERAL MEETING FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2019

Unless otherwise defined, all capitalised terms used in this announcement shall bear the same meanings as defined in the Company's announcement dated 27 March 2020 (the "Announcement").

The Board of Directors (the "Board") of Yongnam Holdings Limited (the "Company") refers to the Announcement and wishes to announce that the SGX-ST has, on 30 March 2020, confirmed that based on the Company's submission and representations to SGX-ST,SGX-ST has no objection to the Company's application for waiver from compliance with Rule 707(1) of the Listing Manual of SGX- ST and for an extension of time to hold its AGM by 29 June 2020 (the "Waiver"), subject to the following conditions:

1. the Board of Directors' confirmation that the Company has fulfilled the criteria as set out in the SGX-ST Announcement dated 27 February 2020 (the "SGX-STAnnouncement");
2. the Board of Directors' confirmation that the Waiver will not be in contravention of any laws and regulations governing the Company and its constitution (or equivalent in the Company's country of incorporation); and
3. issuance of the Company's annual report to shareholders and the Exchange by 15 April 2020.
   (collectively the "Waiver Conditions").

The Waiver will not be valid if any of the Waiver Conditions have not been fulfilled.

COMPLIANCE WITH THE WAIVER CONDITIONS

1. The Board confirms that the Company has fulfilled one of the two criteria as set out in the SGX-ST Announcement, being that the Company's financial year end is 31 December 2019. In respect of the second criteria regarding the approval of a similar application for extension of time by the Accounting and Corporate Regulatory Authority ("ACRA") or other relevant regulatory authorities (where applicable), the Company has submitted to ACRA for an extension of time to hold its AGM and file its annual return under Section 175 and Section 197 of the Companies Act, Chapter 50 of Singapore. The aforesaid application is pending ACRA's approval ("ACRA Approval") and the Company will make an announcement on the outcome in due course;
2. The Board confirms that the Waiver will not be in contravention of any laws and regulations governing the Company and its constitution (or equivalent in the Company's country of incorporation); and
3. Issuance of the Company's annual report to shareholders and the Exchange by 15 April 2020.

Accordingly, the Board of Directors confirms the Company's compliance with all the Waiver Conditions save for the ACRA Approval.

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INDICATIVE TIMELINE

Subject to the ACRA Approval being obtained, the indicative timeline to convene the Company's AGM for FY2019 is as follows:-

Event	Indicative Date
Despatch of the Company's Annual Report	No later than 15 April 2020
(including Notice of AGM and Proxy Form)
for FY2019
AGM for FY2019	No later than 29 June 2020

CONFIRMATION FROM THE COMPANY

Notwithstanding the Waiver, the Company is required to comply with its continuing disclosure obligations under the Listing Manual. The Company will continue to monitor and if the Company's operations are materially affected by the COVID-19 situation, timely disclosure on the financial impact or any other material aspects will be made immediately via SGXNet as required under Rule 703 of the Listing Manual. Where there is a material variance between the audited results and the full year results previously announced, the Company will also make an immediate announcement including an explanation for the change between the audited and unaudited results for FY2019.

The Company confirms that it is not aware of any other information (including but not limited to financial information) with respect to the Company that may have a material bearing on investors' decisions which has yet to be announced by the Company.

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

By Order of the Board

Seow Soon Yong

Chief Executive Officer

30 March 2020

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