VibroPower : Media Statement – Conclusion of EGM

Media Statement - Conclusion of EGM(9 Nov 2020)

VibroPower concluded its EGM today and would like to thank all shareholders for their interest and support for the Group, especially given the continuing tough global and domestic conditions and the resulting impact on businesses.

As VibroPower navigates through these challenges, the Group is mindful of recent shareholder concerns which were raised and addressed through various platforms, including the Singapore Exchange. Through all communications, VibroPower's actions were fully compliant with the law and applicable SGX listing rules. VibroPower has acted and will continue to act in the best interests of all shareholders. The strong results of the EGM today vindicate the Board and underlines the confidence and support for the current Board to move on with its strategic plans for the benefit of all shareholders.

Looking ahead, VibroPower will continue to execute on-going projects on hand, while transforming itself into a more competitive Group within the power generation industry. The foray into Malaysia will be driven through the new strategic investors while the push into China through wholly owned Shanxi Weineng will help diversify revenue streams. Equally important is the strategic focus on developing sustainable energy solutions.

At VibroPower, we continue to believe that there is much to be pursued and achieved within the Group's core power generation business and we look forward to working with all shareholders to move forward with these initiatives.

• Attributable to Mr Benedict Chen, Chief Executive Officer

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