April 25, Acknowledgement for the Current Situation on Group Lease PCL (Continuous Disclosure)

April 25, 2019

Company Name: JTRUST ASIA PTE.LTD.
Representative: Nobuyoshi Fujisawa, Managing Director, CEO
Contact: Nobiru Adachi, Director
Telephone: +65-6535-5152

Acknowledgement for the Current Situation on Group Lease PCL
(Continuous Disclosure)

J Trust Co., Ltd., the parent of JTRUST ASIA PTE. LTD., published a press release “Acknowledgement for the Current Situation on Group Lease PCL (Continuous Disclosure)”. Please refer to the attachment.

April 25, 2019
J Trust Co., Ltd.
Securities code: 8508

Acknowledgement for the Current Situation on Group Lease PCL
(Continuous Disclosure)

  The currently ongoing lawsuits pursued by JTRUST ASIA PTE. LTD. (hereinafter, “JTA”) against Group Lease PCL (“GL”), related entities and Mr. Mitsuji Konoshita, (“Mr. Konoshita”), ex-CEO of GL, are: a civil complaint to demand for the return of investment amounts and to claim compensation for damages caused, such as by fraudulent transactions and other lawsuits in Thailand; a civil claim in the Singapore High Court for the tort of unlawful means conspiracy against Group Lease Holdings Pte Ltd (the subsidiary of GL incorporated in Singapore), Mr. Konoshita and other entities; and lawsuits against Mr. Konoshita and his related entities in the British Virgin Islands and the Republic of Cyprus.

  As we announced earlier, Showa Holdings (“Showa”) and Wedge Holdings (“Wedge”) issued the press release on April 23rd, stating that JTrust executives are indicted by the Cambodian Prosecutor.

  Through our investigation with a law firm in Cambodia, we found that the complaint had been submitted by Mr. Konoshita.

  Furthermore, as we also announced earlier, the assertion of Showa and Wedge is not correct and we cannot find any grounds for such an assertion.

  We take decisive action including legal measures against both Showa and Wedge to rectify the situation.

We will make further disclosure as soon as any further development occurs.

-End-

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