STA.L Regulatory News (STA)

Star Phoenix Group Ltd

("Star Phoenix" or the "Company")

12 October 2021

NOTICE UNDER SECTION 249D OF THE CORPORATIONS ACT

 Star Phoenix, an AIM listed company (AIM: STA) focused on growth through attractive opportunities, announces that on 11 October 2021, the Company received a notice under section 249D of the Australian Corporations Act 2001 (Cth) (Section 249D Notice) from Beijing Sibo Investment Management LP (Requisitioning Shareholder) requesting the directors to convene a meeting of the members of the Company ("Meeting").

The Section 249D Notice states that the Requisitioning Shareholder holds approximately 17.3% of the votes that may be cast at a general meeting.

The Section 249D Notice requests that the Meeting considers the following resolutions:

1. Election of Director - Mr. Qu Guangsheng; and

2. Election of Director - Mr. Deng Lian Jun; and

3. Election of Director - Mr. Yang Chon Yi.

Under section 249D, the Directors must call and arrange to hold a general meeting on the request of members with at least 5% of the votes that may be cast at the general meeting. Directors must call the meeting within 21 days after the request is given to the Company and the meeting is to be held not later than 2 months after the notice of request has been received.

The Company will consider the validity of the Section 249D Notice and if valid undertake the necessary steps to convene a general meeting in compliance with these requirements. Under the AIM rules the Nomad will consider the appropriateness of the candidates. If the candidates are not considered appropriate by the Nomad and they are appointed, the Nomad may resign.

Pursuant to Rule 1 of the AIM Rules for Companies, if a company ceases to have a Nomad, the Exchange will suspend trading in its AIM securities with immediate effect. If a new Nomad is not appointed within one month of the date of resignation of the original Nomad, this will result in the Company's ordinary shares being delisted from AIM and the Company's admission to AIM being cancelled.

The Company will provide a further update on the notice and timing of the general meeting.

The information contained within this announcement is considered to be inside information prior to its release, as defined in Article 7 of the Market Abuse Regulation No. 596/2014, and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.