Director Michael Chai

It has just come to our attention that one of the Company’s directors, Michael Chai, was arrested in January 2024, and has been incarcerated in the Philippines on matters unrelated to Blackwell Global Holdings Limited.

We are seeking clarification of the exact details of the charges.

The independent directors Sean Joyce and Craig Alexander are extremely disappointed to learn of this development at such late notice.

The independent directors have today, through an intermediary, sought the resignation of Mr Chai as a director of the Company.

The independent directors are taking legal advice on this matter, and are looking at the implications of this development on the Company.

We will update the market during the course of next week.

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