December 4, 2022
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Property

Proposed Change in Name of Suncity Group Holdings Limited (“SGHL”)

Suntrust Resort Holdings, Inc. (SUN) disclosed that SGHL has proposed to change its corporate name from “Suncity Group Holdings Limited” to “LET Group Holdings Limited” , with “L” standing for “Leisure”, “E” for “Entertainment”, and “T” for “Taste”.

Based on the disclosure of SGHL, its Board is of the view such proposed change will better reflect the SGHL and its subsidiaries’ (the “Group”) strategic business plan and its future development direction with the focus on tourism-related business. SGHL’s Board believes that the new name can bring a new atmosphere to SGHL’s corporate image and identity, which will help SGHL better capture potential business opportunities and benefit the future development of the Group.

As earlier disclosed, the proposed name change is conditional upon the following conditions having been satisfied:

1. the passing of a special resolution by the shareholders of SGHL approving the proposed change of company name at an extraordinary general meeting of SGHL to be convened; and
2. the Registrar of Companies in the Cayman Islands granting approval for the proposed change of company name.

On August 17, 2022, SUN was informed that more than 75% of the votes were cast in favor of the resolution approving the proposed change of company name at the extraordinary general meeting convened on 15 August 2022, thereby meeting the first condition stated above.

On August 18, 2022, SUN was informed that the Registrar of Companies in the Cayman Islands has approved the change in name from “Suncity Group Holdings Limited” to “LET Group Holdings Limited” effective August 16, 2022 pursuant to the Certificate of Incorporation on Change of Name issued by the Registrar of Companies in the Cayman Islands. With said approval, SGHL has adopted a new logo effective August 18, 2022 and will change the website from “www.suncitygroupholdings.com” to www.letgroupholdings.com effective August 19, 2022.

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