RAFFLESINTERIOR (01376.HK): Resignation of Certain Directors, Independent Non-Executive Directors, Authorized Representative, Company Secretary and Process Agent; Trading Remains Suspended

RAFFLESINTERIOR (01376.HK) announces that on September 17, 2026, the Court of Appeal handed down its judgment. In summary, the Court of Appeal: (i) restored the injunction prohibiting the Company from issuing 200 million new shares, as it considered that the dilution of Han Chen's majority shareholding would be difficult or impossible to restore, and that restraining the share issuance did not cause substantial injustice to the Company, since from the Court of Appeal's perspective, the Company's solvency was not threatened and other fundraising mechanisms remained available; (ii) ruled that when directors exercise their power under Article 64E of the Company's Articles of Association to adjourn a general meeting, they must not extend a requisitioned extraordinary general meeting beyond the two-month time limit stipulated in Article 58, nor adjourn an annual general meeting beyond the six-month period stipulated in Article 56; and (iii) upheld the order prohibiting the Company's directors from preventing Han Chen's proposed resolutions from being put to vote and from being voted on by Han Chen.