OUC HOLDINGS (08067): Zhou Huasheng is alleged to be negligent in failing to disclose several pieces of information related to loan financing to the Stock Exchange regarding Leford Education.

OUC HOLDINGS (08067) announces that, according to the latest information provided by Chairman and Executive Director Mr. Zhou Huasheng ("Mr. Zhou"), pursuant to Section 331(1) of the Singapore Securities and Futures Act of 2001 (read in conjunction with Section 203(1)), Mr. Zhou of Stamford Education Group ("Stamford Education"), a company listed on the Singapore Exchange holding 75% of the Company's issued share capital, and several current and former directors (Mr. Zhou and these current and former directors collectively referred to as the "accused") were officially charged with committing offences ("the offences") on September 20, 2024. The offences involved Stamford Education allegedly being negligent and failing to disclose several pieces of information required under the Listing Rules of the Singapore Exchange in relation to loan financing. As informed by Mr. Zhou, the accused were officially charged with the offences on September 20, 2024. Mr. Zhou's bail is set at SGD 30,000, and an additional SGD 30,000 is required if he travels abroad. To avoid any doubt, neither Mr. Zhou nor any of the accused have been convicted or found guilty of any offences. As the Group is not involved in the offences and the loan financing is unrelated to the Group, the Board believes that the Group's operations will not be significantly adversely affected. Apart from the disclosures made above, there are no other material information related to Mr. Zhou that needs to be disclosed under Rule 17.50(2)(h) to (v) of the GEM Listing Rules, and there are no other matters concerning Mr. Zhou's directorship in the Company that need to be brought to the attention of the shareholders of the Company.