OUC Holdings (08067) announced that according to the latest information provided by Mr. Zhou Huasheng, the chairman and executive director of the company, in accordance with Section 331(1) of the Securities and Futures Act 2001 of Singapore (interpreted together with Section 203(1)), Mr. Zhou and several current and former directors (referred to collectively as the "accused") of Raffles Education Group ("Raffles Education"), a company listed on the Singapore Exchange (SGX) holding 75% of the company's issued share capital, were formally charged with committing offenses ("the offenses") as of September 20, 2024.

The offenses involve allegations that Raffles Education negligently failed to provide several pieces of information regarding loan financing to the Singapore Exchange (SGX) according to the disclosure requirements of the SGX Mainboard Rules. According to Mr. Zhou's disclosure, the accused were officially charged with these offenses on September 20, 2024. Mr. Zhou's bail is SGD 0.03 million, and if he travels abroad, he must pay an additional SGD 0.03 million. To avoid any confusion, neither Mr. Zhou nor any of the accused have been convicted or found guilty of any crimes.

As the group is not involved in these offenses and the loan financing is unrelated to the group, the board of directors believes that the group's operations will not be significantly adversely affected.

In addition to the information disclosed above, there is no other information about Mr. Zhou that needs to be disclosed in accordance with Rule 17.50(2)(h) to (v) of the GEM Listing Rules, and there are no other matters regarding Mr. Zhou's directorship in the company that need to be brought to the attention of the company's shareholders.