Reference is made to the Company's announcement dated 19 February 2020 in respect of  the transfer of  the indirect interest of 247,297,590 Ordinary Shares by YAB Toh Puan Mahani Binti Idris via Ibu Kota Developments Sdn Bhd to Maybank Trustee Berhad, afterwhich YAB Toh Puan Mahani Binti Idris ceased to be a susbtantial shareholder of Avillion  by virtue of Section 139 of the Companies Act, 2016.

The Board of Directors of the Company wishes to clarify that the Transfer is made to a trustee of Discretionary Trust and the beneficiaries of whom are members of the family of YAB Toh Puan Mahani Binti Idris, subject to the terms and conditions as stipulated in the said Discretionary Trust.

This announcement is dated 11 March 2020.