The Board of Directors of AIM wishes to announce that on 18 May 2023 the Company had filed an originating summons against Chean Meng Hee (“the Defendant”) (“Originating Summons”) for the following reliefs:

1. a declaration that the Defendant has breached its fiduciary duties, duty of care and statutory duties to the Company;
2. a declaration the Defendant has breached the terms of the Directors' Circular Resolution dated 1.10.2021;
3. Special damages of RM2,597,665.71;
4. Interest at 5% per annum on RM2,597,665.71 from the judgment date to the date of full payment;
5. An order that the Defendant indemnify the Company against any and/or all liability, costs and damages in respect of the breach of the ACE Market Listing Requirements, if any;
6. General damages to be assessed by the court;
7. Interest;
8. The cost of this application and all subsequent and incidental costs shall be paid by the Defendant to the Company; and
9. Any further or other reliefs which is deemed just and expedient by the court.

At as the date of this announcement, the Company is not expecting any material financial and operational impact arising from the Originating Summons.

Save and except for the legal cost in claiming against the Defendant, the Company is not expected to incur any further loss arising from the Originating Summons.

Case management has been fixed via e-review on 7 June 2023.

Further announcement on the development of the above matter will be made to Bursa Malaysia Securities Berhad in due course.

This announcement is dated 19 May 2023.