On October 19, 2020, Smiles Inclusive Limited announced the cancellation of the shareholder meeting that was proposed to be held on October 23, 2020. The Company confirmed to shareholders that there will be no extraordinary general meeting held on October 23, 2020. The Company announced that it has received a request from Phi Long Investment Pty Ltd for the EGM to be cancelled. The Company stated that it welcomes the cancellation request, as it has always considered the EGM to be an unnecessary and costly distraction from the Board and management’s efforts to turnaround the Company’s business.