ST Group Food Industries Holdings Limited – Monthly Update on Subsidiary Liquidations

Key Highlights for Investors

• No Material Developments in Major Subsidiary Liquidations: The Company reports that since its last update on 22 January 2026, there have been no material changes or developments in the liquidation processes of GCTea Outlets 2B Ltd, GCTea Outlets 2A Ltd, and GCTea Ltd.
• Update on PPR Ryde (NSW) Pty Ltd (“PPR”): On 4 February 2026, the liquidator of PPR issued the statutory report to creditors, detailing the affairs and preliminary investigation results. However, standard investigations into PPR’s affairs are still ongoing.
• Ongoing Reporting Commitment: The Company has committed to keeping shareholders informed about any material changes as and when necessary.

Detailed Analysis of the Report

The Board of Directors of ST Group Food Industries Holdings Limited has issued its regular monthly update in compliance with Catalist Rule 704(22), which mandates timely disclosure of material developments in subsidiaries undergoing liquidation processes. This update specifically pertains to the following subsidiaries:

• GCTea Outlets 2B Ltd
• GCTea Outlets 2A Ltd
• GCTea Ltd
• PPR Ryde (NSW) Pty Ltd (“PPR”)

For the first three entities—GCTea Outlets 2B Ltd, GCTea Outlets 2A Ltd, and GCTea Ltd—the Company explicitly states that there have been no new or material events since the last report. This indicates that the liquidation processes are proceeding without unexpected developments, and there is no change to the financial or operational outlook that shareholders should factor in at present.

Regarding PPR Ryde (NSW) Pty Ltd (“PPR”): The only noteworthy update is the issuance of the statutory report to creditors by the appointed liquidator, which provides transparency into the company’s affairs and outlines the initial findings of the ongoing investigations. However, it is important to note that these investigations are still underway, and no conclusions or material impacts have been reported as yet.

Implications for Shareholders and Potential Price Sensitivity

• No New Price-Sensitive Developments: The status quo in the liquidations of GCTea Outlets 2B Ltd, GCTea Outlets 2A Ltd, and GCTea Ltd suggests there is no immediate impact on the Company’s consolidated financial position.
• Ongoing Investigation for PPR: While the liquidator’s report for PPR has been released, no new findings or conclusions have been shared that could materially affect the Group’s valuation or share price at this stage. Investors should continue to monitor forthcoming announcements for any significant revelations, especially once the investigations conclude.
• Continued Disclosure: The Company has reaffirmed its commitment to timely disclosure, and any material developments will be promptly communicated. Shareholders are advised to stay alert for future updates, especially concerning the outcomes of the ongoing investigations into PPR.

Conclusion

As of this monthly update, there are no new material developments that would likely impact the share price or valuation of ST Group Food Industries Holdings Limited. The liquidations are progressing as previously disclosed, and the Company remains transparent with its reporting obligations.

Disclaimer

This article is for informational purposes only. It is not, and should not be construed as, investment advice or a recommendation regarding any securities. The content is based solely on public disclosures by ST Group Food Industries Holdings Limited as of 24 February 2026. Investors are encouraged to conduct their own due diligence and consult with their financial advisors before making any investment decisions.

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