Kitchen Culture Criticises Requisitioners for ‘Diametrically Changing’ Minds by Publishing Advertisement to Call off EGM to Remove 5 Directors; Company Affirms 1 November EGM Will Not Proceed – QNT Press Release

SINGAPORE, Oct 31, 2022 – (ACN Newswire) – Kitchen Culture Holdings Ltd. (“Kitchen Culture” or the “Company”) said today that a group of 8 shareholders (“the requisitioners”) seeking to remove 5 of 6 directors has caused confusion among shareholders and the public by publishing a newspaper advertisement calling off the Extraordinary General Meeting (“EGM”) with 1 working day’s notice before it was due to be held.

The Company said it was made aware of a relatively small advertisement published by the requisitioners in The Business Times on 29 October 2022 (Saturday) to ‘postpone’ the EGM – originally proposed for 9.00 am on 1 November 2022 (Tuesday) at Grand Copthorne Waterfront Hotel – even though the requisitioners had not communicated this to the Board of Directors (“the Board”).

While the requisitioners had published a significantly larger advertisement in The Sunday Times – a different newspaper – on 16 October 2022 calling for the EGM and had issued a press release via ACN newswire 8 days later urging shareholders to attend, they now “… appear , suddenly and without giving any explanation, to have diametrically changed their minds with just 1 working day before 1 November 2022,” Kitchen Culture said.

The Company said that some shareholders may not be aware of the latest advertisement by the requisitioners whose conduct has continued to cause confusion. Kitchen Culture has been receiving calls from …