Excerpt From Circular

2. THE PROPOSED CHANGE OF NAME

2.1 Background and Rationale The Directors are proposing to change the Company& rsquo s name from Samko Timber Limited to    Le Tree Holdings Limited  and the adoption of the Chinese name    乐 树 控 股 有 限 公 司     for identification purpose.

3.2 Information in relation to the Proposed New Business

Following the Disposal and Termination, the Company intends to change its core business to the Proposed New Business subject to the approval of the Shareholders to be obtained at the EGM.

The Proposed New Business involves the business of    (i) personal care, beauty and wellness products and    (ii) beauty and wellness treatments and solutions, which involves    supply chain trading, retail and wellness outlets, e-commerce, branding management and franchising and related activities  proposed to be undertaken by the Group as its core business,    mainly in the PRC and Singapore.

The Company intends to initially commence the Proposed New Business through    trading and sale of personal care, beauty and wellness products and will expand the business through retail and wellness outlets and franchising    at the appropriate time. The Company has identified some businesses for potential acquisition and will commence the acquisition plans upon receipt of Shareholders& rsquo approval for the Proposed New Business.