General Announcement::Clarification on Article published by the Business Times

Issuer & Securities

Issuer/ Manager
ZICO HOLDINGS INC.
Securities
ZICO HOLDINGS INC. - MYA007968003 - 40W
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
10-Oct-2019 17:32:00
Status
New
Announcement Sub Title
Clarification on Article published by the Business Times
Announcement Reference
SG191010OTHR23G7
Submitted By (Co./ Ind. Name)
Chew Seng Kok
Designation
Managing Director
Effective Date and Time of the event
10/10/2019 17:00:00
Description (Please provide a detailed description of the event in the box below)
The Board of Directors of ZICO Holdings Inc. (the "Company") refers to the article titled "Zico Holdings to sell 2 offshore services units for at least US$3.9 m" - 9 October 2019, published in the Business Times ("Article").

The 2nd paragraph of the Article states that "Additional consideration of over US$988,000 may be payable if the shares are sold at a certain price range. This would translate to net proceeds of between RM16.3 million (S$5.4 million) and RM19 million for Zico."$988,000, additional consideration of US$340,510 OR US$648,299 may be payable; and

b) that the shares referred to in the aforementioned paragraph refers to the shares in the Company held by certain persons as referred to in the Company's announcement of 9 October 2019.

This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, Asian Corporate Advisors Pte. Ltd. (the "Sponsor"), for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited (the "Exchange"). The Sponsor has not independently verified the contents of this announcement including the correctness of any of the figures used, statements or opinions made.

This announcement has not been examined or approved by the Exchange and the Exchange 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 Foo Quee Yin.
Telephone number: 6221 0271