OUE refutes reports on Mandarin Orchard Singapore, Mandarin Gallery sale

No decision was made on the sale of the two properties.

Here is the clarification issued by OUE:

The Board of Directors of Overseas Union Enterprise Limited (the “Company”) wishes to clarify certain reports published by Business Times and Bloomberg today regarding the potential sale of Mandarin Orchard Singapore and Mandarin Gallery.

The Company has been approached by some potential buyers and has offered a potential buyer exclusivity to conduct preliminary due diligence on Mandarin Orchard Singapore and Mandarin Gallery.

The Company would like to state that no firm decision has been taken and no definitive agreement has been entered into in relation to a sale of Mandarin Orchard Singapore and Mandarin Gallery. At this stage it is uncertain if any transaction will be concluded.

The Company willI inI compliance with its obligations under the Listing Manual of Singapore Exchange Securities Trading Limited (the “SGX-ST”), make the relevant announcements on SGXNET once a firm and definitive decision has been made on matters which require disclosure pursuant to the Listing Manual ofthe SGX-ST.

In the meantime, shareholders of the Company are advised to exercise caution when dealing with their shares in the Company.