Gelonghui, December 18, 丨 Straits Petrochemical (00852.HK) announced that the company received a subpoena summoning the company to attend the Hong Kong High Court hearing at 10:30 a.m. on December 20, 2024. The hearing concerned two persons claiming to be shareholders of the company (claiming to jointly hold about 1.148% of the company's total issued share capital) (as plaintiffs) to issue an injunction against the company (as defendants) seeking to restrict voting on the resolution proposed by the board of directors and/or the resolution proposed by the petitioner. Regarding the reasons for the application, the plaintiff stated in the application that if both the resolution submitted by the board of directors and the resolution submitted by the requester were passed, (i) the company would violate its articles of association and listing rules relating to the composition of the board of directors, and (ii) the company's operations would be paralyzed.

The company is seeking legal advice and will take necessary action in due course to protect the overall interests of the company and its shareholders.