The scheme provides for:

‒ Demerger of lifestyle business carried on by RL through itself and its related subsidiaries along with its strategic investment in RG (‘Lifestyle Business Undertaking') into RCCL; and

‒ Amalgamation of RG with RCCL along with the consequential reduction and cancellation of the paidup share capital of RCCL held by RG.

Pursuant to the Scheme, RL shall carry on the real estate business along with other non-lifestyle businesses. Accordingly, the Board of Directors of RL granted its approval for withdrawal of the Scheme of Arrangement between RL and Raymond Lifestyle Limited which was approved by the Board of Directors at its meeting held on 25 February 2022 and filed with the stock exchanges on 10 March 2022.