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The cancellation of share transfer agreement by Company’s subsidiaries

On August 1, 2019, PT Innovate Mas Utama ("IMU") and Sunshine Network Pte. Ltd. (“Sunshine”) cancelled the agreement made on June 28, 2019, regarding to the plan to transfer MyRepublic Group Limited shares owned by IMU to Sunshine due to the non-fulfillment of the conditions precedent of the agreement.

IMU and Sunshine are indirect subsidiaries of the Company.