SINGAPORE - TelAve -- Golden Arie Hi-Tech Investments Pte Ltd (GAHT) and Pourquoi Pas Pte Ltd (PP) announced today that they have entered into an agreement for Golden Arie Hi-Tech Investments Pte Ltd to discontinue its claim under HC/Suit 1005/2017 against Olivier Leroux, Alice Grand-Chavin, Pascal Chevalier, Philippe Geyres, Nicholas Yanicelli and Oasis Smart SIM Pte Ltd.

Reciprocally, Oasis Smart SIM Pte Ltd has discontinued its counter claim under HC/Suit 1005/2017 against Golden Arie Hi-Tech Investments Pte Ltd, Stephen Howard Margolis and Simon Tobelem.

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As part of this agreement, Golden Arie Hi-Tech Investments Pte Ltd will remain an ordinary shareholder of Oasis Smart Sim Technologies Pte Ltd (OSST) and Pourquoi Pas will increase its position as a main shareholder of Oasis Smart Sim Technologies Pte Ltd.

Full details of the Claim, Counter Claim and Notice of Discontinuance can be found in respect of the papers filed at the High Court of the Republic of Singapore under reference HC/S 1005/2017.