Joint Statement

Silver Achiever Investments Limited, Mr Frank Joseph Prineppi, Ms Barbara Betty Prineppi, Guilden International Limited and Remote Automation Monitoring Limited hereby issue the following joint statement:

In 2014, Silver Achiever Investments Limited invested in a joint venture known as Remote Automation Monitoring Limited ("RAM"), which was managed by Frank and Barbara Prineppi. As a passive investor, Silver Achiever granted the Prineppis authority to make specific management decisions. In 2016, Silver Achiever initiated legal proceedings in Hong Kong (High Court Actions nos. HCA 1377 of 2016 and HCCW 203 of 2016) regarding the joint venture, seeking to resolve issues relating to the management of RAM.

Notwithstanding the judgment handed down by the Court of First Instance of Hong Kong, the Prineppis have proposed an amicable settlement with Silver Achiever to dispense with the need for Silver Achiever's appeal. Given certain conditions that the Prineppis have met, Silver Achiever agreed to bring the appeal proceedings to an end.

Date: 2 October 2024

Silver Achiever Investments Limited 

Mr Frank Joseph Prineppi

Ms Barbara Betty Prineppi

Guilden International Limited 

Remote Automation Monitoring Limited