OSIM : The Wellness Group's Appeal Against The Decision Of The High Court Of Singapore In Suit 187/2014

2.

On 5 May 2016, The Wellness Group Pte Ltd ("The Wellness Group") filed an appeal to the Court of Appeal against the High Court's decision dismissing The Wellness Group's claim in Suit 187/2014 ("Suit 187") for oppression under section 216 of the Companies Act.

3.

The Wellness Group's appeal covers the High Court's dismissal of The Wellness Group's claims in Suit 187 that the 1st to 6th Defendants had acted to damage TWG Tea Company Pte Ltd ("TWG Tea")'s profitability and to enable the Company to take control of TWG Tea, that the Rights Issue was not bona fide and was oppressive to The Wellness Group's interests and the High Court's order that The Wellness Group pay the costs of its High Court action to the Company and the other Defendants in Suit 187.

4.

As also stated in the Company's announcement dated 22 April 2016, the High Court had also dismissed Suit 545/2014 ("Suit 545"), which was a claim commenced by The Wellness Group and Mr Manoj Murjani against the Company and all of its Directors for libel arising out of the Company's announcement dated 17 February 2014.

5.

The Wellness Group and Mr Murjani have not filed any appeal against the High Court's decision to dismiss Suit 545. The deadline for them to file an appeal against that dismissal has expired.

6.

The Company intends to vigorously contest The Wellness Group's appeal against the High Court's decision to dismiss its oppression claims in Suit 187.