The Board of SDM Education Group Holdings Limited informed the shareholders of the company and hereby announced that due to the delay of the audit progress, especially the audit areas concerning the Group's business in Singapore, consisted audit procedures including but not limited to ascertaining
the valuation of results of convertible notes of the Group, assessing the impairment on goodwill and intangible assets of the Group; assessing the Group's ability to continue as a going concern; and obtaining all outstanding audit confirmations, the auditors of the Company require additional time to complete the audit works of the Group on the annual results for the year ended 31 December 2022. It is expected that the Company may not be able to
publish the 2022 Annual Results and despatch the annual report for the same period (2022 Annual Report) to the Shareholders on or before 31 March 2023. The meeting of the Board for the purposes of, among other things, approving the 2022 Annual Results will also possibly be postponed. Pursuant to Rules 18.03, 18.48A, 18.49 and 18.50C of the GEM Listing Rules, the Company is required to publish a preliminary announcement of the 2022 Annual Results and despatch the 2022 Annual Report to the Shareholders not later than three months after the end of the financial year of the Company (that is on or before 31 March 2023). The delay in publication of the 2022 Annual Results and the despatch of the 2022 Annual Report will constitute non-compliance of Rules 18.49 and 18.48A of the GEM Listing Rules. The Company will work closely with the Auditors to provide the requested information and documents to complete the audit procedures as soon as possible. The Company will publish further announcements in due course to inform the Shareholders of (i) the date of the meeting of the Board to consider and approve the 2022 Annual Results, (ii) the date of the publication of the 2022 Annual Results and the despatch of the 2022 Annual Report and/or (iii) any material development.