Pine Capital Group Limited has received a further email from the Lender on 29 April 2021 in relation to the Notice of Default that pursuant to the Moratorium Agreement, the Potential Investor has not honored the payment schedule set out in the sale & purchase agreement dated 19 October 2020 in respect of the Deal. Based on the foregoing, the Company was informed by the Lender that the extension granted under the Moratorium has been cancelled and the Lender had requested for the Company to repay the Loan before 30 April 2021. As at the date of this announcement, the Company has not made any payment in respect of the Loan and is presently seeking information from the former directors of the Company, which includes a request for information from Mr. Tomi Tjio when the Interest-free Convertible Loan Agreement was replaced with a Loan Agreement on 15 April 2019, as well as from Mr. Mike Lee Sin Ann and Mr. Chan Wai Leung on a prior moratorium on the repayment of the Loan proposed by the Lender on 20 October 2020.