3 May 2022
MiLOC GROUP LIMITED
("MiLOC" or "the Company")
UPDATE ON SUPPLIER DISPUTES
The Company announces that, further to the announcement of 28 January 2022, its subsidiary, Star Collaboration (Guangzhou) Limited ("Star C") has signed a settlement agreement with the supplier for one of the legal proceedings, whereby Star C will pay a total of approximately £60,714 (equivalent to approximately RMB500,000).
The Company also announces that Star C and Star C's immediate holding company, has been notified by another supplier of the commencement of a legal proceeding, seeking RMB1,783,000 (approximately GBP216,500) in trade payables from the Company, that are in dispute with regard to the amount. The Company will defend its the case. Further updates will be announced once further information becomes available.
The directors of the Company accept responsibility for the contents of this announcement.
For further information, please contact:-
| MiLOC ONG Ban Poh Michael - Chief Executive Officer Lilian Lo - Acting Chief Financial Officer
|
Tel: +852 2110 4221
|
| AQSE Growth Market Corporate Adviser PETERHOUSE CAPITAL LIMITED Guy Miller Mark Anwyl |
Tel: +44 (0) 20 7469 0930 |
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