SKYFAME REALTY (00059) enters into an exclusive agreement, granting investors a 6-month exclusive exclusivity period.

SKYFAME REALTY (00059) announced that on April 10, 2026, (i) the company; (ii) Lion Wealth Management Limited (the investor); and (iii) Mr. Michael Penrose of EY Bermuda Limited, Ms. Sze Yee So and Ms. Yun Man Lau of Ernst & Young Corporate Finance Services Limited, as well as Mr. Joel Edwards of EY Cayman Ltd (each acting as joint provisional liquidators of the company jointly and severally and solely as agents without assuming any personal liability), have entered into an exclusive agreement. From the date of signing the exclusive agreement, the company has granted the investor a six-month exclusive period to facilitate the implementation of the company's proposed restructuring to enable the resumption of trading of the company's shares on The Stock Exchange of Hong Kong Limited. Following the signing of the exclusive agreement, the company and the investor will negotiate in good faith and strive to enter into a formal agreement on the company's proposed restructuring before the exclusive period expires. While the exclusive agreement is a legally binding agreement, it is recommended that the specific terms of the restructuring be further negotiated and formalized in a formal agreement, and the exclusive agreement itself does not constitute any binding obligation or commitment for either party to enter into or complete any transaction or be bound by any terms and conditions of the proposed restructuring. The joint provisional liquidators and the investor each have the right to terminate the exclusive agreement in accordance with its terms. Upon termination of the exclusive agreement, the joint provisional liquidators and the company will be fully released from all duties, obligations, and liabilities arising from the exclusive agreement, and the joint provisional liquidators will be free to engage in discussions, negotiations, and acceptance of any restructuring proposals with other third parties. In order to pursue the overall best interests of all creditors, since their appointment on August 15, 2022, and the winding-up order against the company issued by the Supreme Court of Bermuda on November 14, 2025, the joint provisional liquidators have actively and continuously explored various restructuring opportunities. These efforts include issuing invitations to potential investors, reviewing preliminary proposals, and negotiating investment and restructuring frameworks that may support the company's debt restructuring and resumption of share trading. The joint provisional liquidators believe that granting the investor an exclusive period (as the investor has shown intention to explore the possible restructuring of the company since the winding-up order was issued), will facilitate more effective preparation of a restructuring plan and promote the achievement of the resumption guidance issued by the Stock Exchange before the company's listing status is canceled. The purpose of the exclusive agreement is to provide a clear and structured time frame to the company (represented by the joint provisional liquidators) and the investor to work closely together to develop, evaluate, and (if appropriate and feasible) implement a restructuring plan. As of the date of this announcement, the joint provisional liquidators are continuing to negotiate the detailed terms of a loan agreement with the investor to provide funding support for a viable restructuring plan, and are preparing a resumption proposal. If feasible, the resumption proposal is planned to be submitted to the Stock Exchange for review as soon as possible. Apart from the exclusive agreement, no formal agreement has been reached between the company, the joint provisional liquidators, and the investor regarding the company's restructuring. Furthermore, trading of the company's shares remains suspended.