Story-i Limited's Response to ASX Queries

Story-i Limited (ASX:$SRY) has responded to ASX queries regarding the termination of the business sale process with Society Pass Inc. The company confirmed that the information is considered to have a material effect on the price or value of its securities and that it first became aware of the information on 28th November 2023. Story-i Limited also stated that it complied with Listing Rule 3.1 and that the responses to the queries were authorized and approved in accordance with its continuous disclosure policy.

Executive Commentary on Business Sale Termination

The termination of the business sale process with Society Pass Inc. was a decision made after careful consideration by the board of Story-i Limited. The company had been working closely with Society Pass Inc. to meet all the conditions of the sale, but unfortunately, the inability to replace the personal and corporate guarantees for the credit facilities of PT Inetindo led to the termination. The board unanimously agreed to terminate the sale, and the company promptly prepared and released the ASX announcement in compliance with the Listing Rules.

Summary of ASX Response and Business Outlook

Story-i Limited (ASX:SRY) has provided a detailed response to ASX queries regarding the termination of the business sale process. The company affirmed its compliance with Listing Rule 3.1 and the authorization of responses in accordance with its continuous disclosure policy. The termination decision was made after the board's careful consideration due to the inability to meet the conditions of the sale. Looking ahead, Story-i Limited aims to continue its operations and explore new opportunities to enhance shareholder value.