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Update Information on Lawsuit Initiated by J Trust Asia Pte. Ltd. Against Group Lease Holdings Pte. Ltd.

14 Mar 2018

Group Lease Public Company Limited (the "Company") hereby updates the current situation in relation to the legal proceedings initiated by J Trust Asia Pte. Ltd. ("JTA") against Group Lease Holdings Pte. Ltd. ("GLH") as follows:

On 26 February 2018, the Company made a disclosure regarding the Singapore High Court issuing a Judgment setting aside and discharging the interim injunction order against GLH.

JTA is not entitled as of right to file an appeal against this decision. As such, it subsequently applied for leave to appeal this decision, as well as for the injunction to continue pending the appeal. On 5 March 2018, the Singapore High Court granted JTA's application for leave to appeal but refused JTA's application for an injunction pending appeal.

JTA then filed its appeal to the Singapore Court of Appeal, and shortly thereafter applied for the appeal to proceed on an expedited basis and repeated its application for an injunction pending appeal.

JTA's application for an expedited appeal was granted on 12 March 2018. The date of the appeal hearing has however yet to be fixed.

JTA's second application for an injunction pending appeal was dismissed on 14 March 2018. Moreover, the Singapore Court of Appeal awarded GLH costs of SGD 2,500.