GLOBAL UIN (08496) announced that the GEM Listing Committee held a review hearing on November 11, 2025, regarding the cessation of its business operations in Singapore. On November 24, 2025, the company received a letter from the GEM Listing Committee notifying that, after considering all representations (both written and oral) made by the company, the Committee agreed with the Listing Division's decision.

The decision stated that the acquisition and disposal transactions formed part of a series of arrangements aimed at achieving a backdoor listing of the vending machine business while circumventing the new listing requirements under Chapter 11 of the GEM Listing Rules. Consequently, these transactions should be treated as a single deal, constituting a reverse takeover under Rule 19.06B of the GEM Listing Rules.

As the transactions were completed without fulfilling the new listing procedures or complying with relevant regulations, the GEM Listing Committee deemed the company no longer suitable for listing. Therefore, the Committee upheld the Listing Division's decision to suspend trading of the company's shares under Rule 9.04(4) of the GEM Listing Rules.

Under Chapter 4 of the GEM Listing Rules, the company has the right to request a review of the Committee's decision by the GEM Listing Review Committee. Rule 4.08(1) stipulates that a review application must be submitted to the Secretary of the GEM Listing Review Committee within seven business days after the Committee's decision is issued.

The company is currently consulting its professional advisors and will consider whether to apply for a review of the Committee's decision. Shareholders and potential investors are reminded that the company has not yet decided whether to pursue a review, and even if a review is conducted, the outcome remains uncertain. Trading in the company's shares remains suspended.