ZYY (08223) and the applicant will enter into a settlement agreement.

ZYY (08223) issued a notice that, upon receipt of the request, the company has actively engaged in negotiations with the requestor in order to amicably resolve the dispute. The company hereby provides the latest developments regarding the settlement arrangement between the company and the requestor. During the period in which the requestor's legal advisors are preparing the settlement agreement, the company will enter into a settlement agreement with the requestor, whereby the company will fully repay the debt, and the requestor will subsequently withdraw the request. According to Section 182 of Chapter 32 of the Hong Kong Companies (Winding Up and Miscellaneous Provisions) Ordinance, any disposal of the company's assets (including any legal rights), any transfer of shares, or any change in the status of the company's shareholders, if made after the commencement date of the winding up (i.e. the date of the request (April 29, 2026)), will be deemed invalid under Hong Kong law unless a recognition order from the High Court has been obtained. If the request is later withdrawn, revoked, rejected, or permanently suspended, any disposal made on or after April 29, 2026 will not be affected. The company expects to enter into a settlement agreement with the requestor in the near future, and the request is expected to be withdrawn by the requestor shortly. Since the processing time required for the recognition order is expected to be longer than the time expected for the withdrawal of the request, the company believes that it is not appropriate to apply to the High Court for a recognition order at this stage.