The board of directors of Rex International Holding Limited (the “Company”) refers to the Company's
announcements dated 23 November 2022 and 20 January 2023 and the circular dated 29 December
2022 (the “Circular”) in relation to the Proposed Capital Reduction. Unless otherwise defined,
capitalised terms herein shall have the same meaning as ascribed to them in the Circular.
At an extraordinary general meeting held on 20 January 2023, the shareholders of the Company
passed the Capital Reduction Resolution to approve the Proposed Capital Reduction to reduce the
share capital of the Company by the cancellation of the share capital of the Company that has been
lost or is unrepresented by available assets to the extent of the amount of the accumulated losses of
the Company up to 31 December 2021 of US$168,096,000.
The board of directors of the Company is pleased to announce that the Company has complied with
all the requirements under Section 78C(1)(c) of the Companies Act and that no application for the
cancellation of the Capital Reduction Resolution has been made.
The Company has lodged the documents required by the Companies Act with the Accounting and
Corporate Regulatory Authority of Singapore on 7 March 2023. The Proposed Capital Reduction is
therefore effective as of 7 March 2023.