The board of directors of Imagi International Holdings Limited informed the shareholders of the Company (the "Shareholders") and potential investors of the Company that based on the preliminary review of the unaudited consolidated management accounts of the Company for the year ended 31 December 2019 (the "Year") and information currently available to the Board, the Group expects to record an increase in consolidated net loss after tax by not less 35% as compared to that for the corresponding period last year (the "Previous Year"). The aforementioned estimated increase in loss is mainly attributable to (i) increase in legal and professional fee for an on-going corporate exercise in relation to a very substantial acquisition and reverse takeover involving a new listing application carried out during the Year; (ii) interest expenses of approximately HKD 14 million arising from the HKD 1 billion 10% 3-years Guaranteed Notes issued by the Group on 13 November 2019; and (iii) net effect of the aggregate net realised loss from the sale of listed equity of approximately HKD 80 million as compared to approximately HKD 16 million for the Previous Year while losses from changes in fair value of financial assets classified as held-for-trading of approximately HKD 28 million as compared to approximately HKD 107 million for the Previous Year. The aforementioned estimated increase in loss has not taken into account potential provisions/impairments, if any, which have to be made subject to the review of the Board and the audit committee of the Company together with discussions with the independent auditor of the Company.