(Unless otherwise stated, all abbreviations and definitions used herein shall have the same meaning as those used in the Company’s circular dated 10 July 2017 in relation to the Proposals)

On behalf of the Board of RSB, Maybank IB wishes to announce that the following conditions precedent under Clauses 4.1(e) and (f) of the Simunjan Agreement have been fulfilled in accordance with the terms of the Simunjan Agreement:

(i)         RSB settling all existing liabilities owing to trade creditors for the development of the Simunjan Estate; and

(ii)        RSB procuring a redemption statement cum letter of undertaking on the redemption sum payable to settle the Simunjan Facilities.

Following this, the Simunjan Agreement has become unconditional.

This announcement is dated 26 July 2018.