RAFFLESINTERIOR (01376): Resignation of several directors, independent non-executive directors, authorized representatives, company secretaries and legal process agents to continue suspension

Zhitong Finance App News, RAFFLESINTERIOR (01376) issued an announcement. On September 17, 2026, the appellate court issued its ruling. In summary, the appellate court: (i) reinstated the injunction prohibiting the Company from issuing 200 million new shares, because it believed that the dilution of Hanchen's majority shares would be difficult or impossible to return to the original situation, and that restrictions on the issuance of shares did not cause significant injustice to the Company, because from the perspective of the appellate court, the company's solvency was not threatened, and other fund-raising mechanisms were still available; (ii) ruled that when directors exercise their power to defer the shareholders' meeting in accordance with section 64E of the Company's Articles of Association, the requested special shareholders' meeting must not be extended until the two-month time limit stipulated in section 58 of the Company's Articles of Association After that, it must not Postpone the annual general meeting of shareholders until after the six-month period stipulated in section 56 of the Rules; and (iii) maintain the order prohibiting the directors of the Company from blocking Han Chen's proposed resolution from voting and voting by Han Chen.

The Board further announced the following resignations and board committee changes, all effective from the date of this announcement: (i) Mr. Chen Minghui has submitted his resignation, resigned as Executive Director, and is no longer serving as Chairman of the Board of Directors and authorized representative of the Company under section 3.05 of the Listing Rules; (ii) Ms. Lu Peishan has submitted her resignation, resigned as an executive director, and is no longer a member of the Company's Nomination Committee; (iv) Chen Mr. Zhi Keung has submitted his resignation, resigned as an independent non-executive director, and is no longer serving as the Chairman of the Nomination Committee and a member of the Audit Committee and Remuneration Committee; (v) Mr. Zhang Jiale has submitted his resignation, resigned as an independent non-executive director, and no longer serves as the Chairman of the Remuneration Committee and a member of the Audit Committee and Nomination Committee; and (vi) Mr. Yu Chung has submitted his resignation, resigned as the Company's company secretary, and no longer serves as an authorized representative of the company in Hong Kong under Part 16 of the Companies Ordinance, Chapter 622 of the Hong Kong Laws.

The resignation of the resigning director was made in response to an appellate court decision.

Trading of the company's shares continues to be suspended.