The Board of Directors of RCE (“Board”) is pleased to announce that RCE will adopt a new Dividend Guidance with a dividend payout ratio of 60% to 80% of its consolidated profit after tax commencing from financial year ending 31 March 2024, provided that such distribution will not be detrimental to the Company’s cash flow requirements.

In considering the dividend payments, the Company will take into account various factors including but not limited to:

1. the Group’s financial performance;
2. return on equity and retained earnings;
3. the level of the Group’s available cash and cash equivalents;
4. the projected level of working capital, capital expenditure and any other investment plans; and
5. satisfactory cash flow solvency test.

The Board will re-evaluate and review the Dividend Guidance on an ongoing basis.

This announcement is dated 23 May 2023.