Other Scheme of Arrangement::COURT SANCTION OF SCHEME AND EXPECTED EFFECTIVE DATE - THE WCG ANNOUNCEMENT

ASPIAL CORPORATION LIMITED

(Incorporated in the Republic of Singapore)

(Registration Number: 197001030G)

PROPOSED ACQUISITION BY ASPIAL CORPORATION LIMITED OF ALL THE ISSUED ORDINARY SHARES ("WCG SHARES") IN THE CAPITAL OF WORLD CLASS GLOBAL LIMITED (OTHER THAN THE WCG SHARES HELD BY ASPIAL) BY WAY OF A SCHEME OF ARRANGEMENT

COURT SANCTION OF SCHEME AND EXPECTED EFFECTIVE DATE

1. BACKGROUND

The Board of Directors of Aspial Corporation Limited ("Aspial") refers to:

1. the scheme document (the "Scheme Document") despatched by World Class Global Limited ("WCG") electronically to the Scheme Shareholders on 28 May 2021, in relation to the proposed acquisition (the "Proposed Acquisition") of all the WCG Shares in the capital of WCG (other than WCG Shares held by Aspial), by way of a scheme of arrangement in accordance with Section 210 of the Companies Act (Chapter 50 of Singapore) and the Singapore Code on Take-overs and Mergers; and
2. the announcement by WCG dated 12 July 2021 in relation to the Court sanction of the Scheme, the Record Date and the expected Effective Date of the Scheme (the "WCG Announcement"). A copy of the WCG Announcement can be found in the Annex.
   Unless otherwise defined, all capitalised terms used and not defined herein shall have the same meanings given to them in the Scheme Document.

1. COURT SANCTION OF THE SCHEME AND EXPECTED EFFECTIVE DATE
   As stated in the WCG Announcement, the Scheme has been sanctioned by the Court today. Subject to the satisfaction (or, where applicable, waiver) of all the Scheme Conditions in accordance with the Implementation Agreement, the Scheme will become effective and binding upon the lodgement of the Court Order with ACRA.
   The Effective Date of the Scheme is expected to be on 22 July 2021. Please note that this date is indicative only and may be subject to change. Please refer to future announcement(s) by the Company and/or the SGX-ST for the exact dates of these events.
2. RESPONSIBILITY STATEMENT
   The Directors (including any who may have delegated detailed supervision of the preparation of this Announcement) collectively and individually accept full responsibility for the accuracy of the information given in this Announcement and confirm after making all reasonable enquiries that, to the best of their knowledge and belief, this Announcement constitutes full and true disclosure of all material facts about the Proposed Acquisition and Aspial and its subsidiaries, and the Directors are not aware of any facts the omission of which would make any statement in this Announcement misleading.

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Where information in this Announcement has been extracted from published or otherwise publicly available sources or obtained from a named source, the sole responsibility of the Directors has been to ensure that such information has been accurately and correctly extracted from those sources and/or reproduced in this Announcement in its proper form and context.

By Order of the Board

Lim Swee Ann

Company Secretary

12 July 2021

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Annex

WCG Announcement

See attached pages.

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