Details of the Legal Proceedings

The lawsuits (the “Relevant Lawsuits”) were filed by ZJY, who is the niece of Mr. Zhang Zhencheng, against the following entities:

• PRC Subsidiaries:
  • Zhuhai Xinmingyang Investment Co., Ltd.
  • Zhuhai Doumen Dasin Metro-Mall Commercial Management Co., Ltd.
• Singapore Holding Companies:
  • Jia Xin Investments Pte. Ltd.
  • Jia Xin Management Pte. Ltd.

These proceedings, together with their associated injunctions, had created uncertainty regarding the control and operations of key PRC assets within Dasin Retail Trust’s portfolio.

Significance for Shareholders

• Risk Reduction: The resolution of these legal matters reduces operational risk and uncertainty, which had the potential to significantly impact business operations, distributions, or asset values.
• Governance Transparency: The announcement clarifies the conflict of interest concerning Mr. Zhang Zhencheng, ensuring shareholders that the majority of the Board is acting in their best interests.
• Ongoing Disclosure Commitment: The Trustee-Manager has committed to updating the market via SGXNet should any further material developments arise.

Conclusion

The withdrawal of the lawsuits and lifting of injunctions mark a positive development for Dasin Retail Trust, eliminating a significant legal and operational overhang. This event has the potential to restore investor confidence and support the Trust’s unit price, given the previous uncertainties surrounding these legal disputes. Investors should continue to monitor further disclosures from the Trustee-Manager regarding any new material developments.

Disclaimer: This article is prepared for informational purposes only and does not constitute investment advice or a recommendation to buy or sell any securities. Investors are advised to perform their own due diligence and consult their professional advisers before making investment decisions.

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