OURGAME (06899) has announced that, concerning a HK$5 million loan (the Loan) extended to the company by its former executive director and former chief executive officer, Mr. Wu Guoliang, in December 2018 during his tenure, the company has recently initiated legal proceedings against Mr. Wu Guoliang in the Hong Kong High Court pursuant to the terms of the relevant loan agreement. The lawsuit demands that Mr. Wu repay the principal and interest on the Loan, as well as cover the associated costs incurred by the company in its recovery efforts.

Furthermore, regarding Mr. Wu's conduct during his employment with the company, an internal investigation has yielded significant progress. Through this investigation, the company discovered that during his tenure, Mr. Wu not only orchestrated illegal and criminal activities involving former employees but also misappropriated and embezzled company assets under the guise of investments and other actions.

Consequently, based on Mr. Wu's breach of his fiduciary duties as a former director of the company, the company will file further legal proceedings in the Hong Kong High Court seeking compensation from Mr. Wu. Simultaneously, the company has reported the matter to the relevant police authorities.

The company remains committed to pursuing all available legal avenues—including but not limited to investigation, litigation, arbitration, and police reporting—to recover the historical loan, receivables, and funds that were misappropriated and embezzled. It will also seek to hold individuals accountable, both civilly and/or criminally where applicable, for actions that have harmed the company's interests.

The company will issue further announcements in accordance with the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and as events develop, in order to keep its shareholders and potential investors informed of the progress.