Newsletter

21 august 2023

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Dear directors and members,

On 11 April 2023 and 9 May 2023, the Board of Goon Yee Tong Limited (GYT) attempted to pass a resolution to suspend the membership of Mei Fong Wong (Mei Lee) for a period of two years pursuant to Clause 10(1)(b) & (d) of GYT’s Constitution. By consent as between Ms Wong and GYT, and without a hearing on the merits, both suspensions have been declared ineffective, invalid and void by the Supreme Court of NSW. Mei Fong Wong remains a member and director of GYT.

On 3 July 2023, His Honour Justice Black of the Supreme Court made orders in proceedings commenced by Mei Fong Wong (or Mei Lee) against Goon Yee Tong Limited, Justin Chan, Colin Chau and Tony Wong.

A copy of the orders accompanies this letter.

In accordance with orders 3 and 6 of the orders, the Company states as follows:

a. the Plaintiff, Mei Fong Wong (or Mei Lee) has not acted with any impropriety in seeking information and the books and records of Goon Yee Tong Limited,

b. the Plaintiff was entitled as a director of Goon Yee Tong Limited to seek that information and those books and records, and

c. any statements to the contrary of (a) and (b) above previously made by Goon Yee Tong Limited, were incorrect.

d. on 11 April 2023 and 9 May 2023, the Board of Goon Yee Tong Limited purported to attempt to

suspend the membership of Mei Fong Wong (Mei Lee) for a period of two years,

e. by consent as between Ms Wong and Goon Yee Tong Ltd, and without a hearing on the merits,

both suspensions have been declared ineffective, invalid and void by the Supreme Court of NSW,

f. the Plaintiff remains a member and director of the First Defendant, and

g. any statements to the contrary of (d), (e) and (f) above previously made by Goon Yee Tong Limited, were incorrect.

President

Goon Yee Tong Limited,

21 August 2023