TONTINE WINES (00389) has received a notice to commence legal proceedings.

TONTINE WINES (00389) announced that the company entered into a placement agreement (the Placement Agreement) with on or around July 26, 2026. On August 6, 2026, the company received a letter from Cheng Deng Law Firm (Limited Liability Partnership) representing and Mr. Wang He (the Plaintiff), formally notifying that the Plaintiff has filed Miscellaneous Proceedings No. 1316 of 2026 in the High Court of Hong Kong against (including but not limited to) the company and/or other parties that may be named in that notice. According to the above notice, the Plaintiff intends to seek (including but not limited to) the following relief: 1. Declaration: (a) The Placement Agreement is invalid and/or may be rescinded at the companys option; and/or (b) The decision of certain defendants to vote in favor of the Placement Agreement was made for improper purposes and/or in violation of their fiduciary duties; 2. An injunction prohibiting the defendants from taking any actions to promote or arrange for the performance of the Placement Agreement; 3. Alternatively or as an additional remedy, an injunction requiring the defendants to promote the immediate termination of the Placement Agreement; 4. Legal costs; and 5. Any further or other relief that the court deems appropriate. The company is currently reviewing the notice in conjunction with its legal advisors. The company intends to defend its position vigorously and will take all appropriate measures in the legal proceedings. Formal court documents are expected to be delivered in due course. The Plaintiff has also requested that the company refrain from taking any actions that may harm its rights or alter the status quo before the court reaches a decision. As of the date of this announcement, the Board believes that the initiation of the above court proceedings will not have any immediate significant adverse impact on the Group's current business operations or financial condition. The company will continue to closely monitor the situation and assess any potential impact on the Placement Agreement and related matters.