Apollo Future Mobility Group Limited — Capital/Financing Update 2019

Dec 12, 2019

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

This announcement is for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for shares.

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(Incorporated in the Cayman Islands with limited liability)

(Stock code: 860)

MAJOR TRANSACTION EXTENSION OF LONG STOP DATE AND DELAY IN DESPATCH OF CIRCULAR

Reference is made to the announcement of WE Solutions Limited (the ‘‘Company’’) dated 31 October 2019 (the ‘‘Announcement’’) in relation to, among other things, the major transaction in relation to the proposed acquisition by the Company of the entire issued share capital of the Target Company (namely, Ideenion Automobil AG) involving the issue of Consideration Shares under the Specific Mandate. Unless otherwise stated, capitalised terms used in this announcement shall have the same meanings as defined in the Announcement.

EXTENSION OF LONG STOP DATE

On 12 December 2019 (after trading hours), the Company entered into a supplemental agreement (the ‘‘Supplemental Agreement’’) with the Vendors in respect of, among other things, the extension of the Long Stop Date.

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As disclosed in the Announcement, the completion of the Acquisition is conditional upon the fulfilment (or waiver, if applicable) of all the Acquisition Conditions by 31 December 2019. Pursuant to the Supplemental Agreement, the Company and the Vendors have agreed to extend the Long Stop Date from 31 December 2019 to 31 March 2020.

All other terms and conditions of the Agreement shall remain unchanged.

DELAY IN DESPATCH OF CIRCULAR

As disclosed in the Announcement, a Circular containing, among other things, details of the Agreement was expected to be despatched to the Shareholders on or before 12 December 2019. As the Company requires additional time to prepare the information to be included in the Circular, the Company expects to despatch the Circular to the Shareholders on or before 16 March 2020.

The completion of the Acquisition is conditional upon fulfillment of the Acquisition Conditions. The issue of the Consideration Shares is subject to fulfilling certain profit targets under the Agreement. Accordingly, the Acquisition and the issue of the Consideration Shares may or may not proceed. Shareholders and potential investors of the Company should exercise caution when dealing in the securities of the Company.

By order of the Board WE Solutions Limited Ho King Fung, Eric Chairman

Hong Kong, 12 December 2019

As at the date of this announcement, the Board comprises two executive Directors, namely Mr. Ho King Fung, Eric (Chairman) and Mr. Sung Kin Man; one non-executive Director, namely Mr. Zhang Jinbing (Co-Chairman); and four independent non-executive Directors, namely Mr. Tam Ping Kuen, Daniel, Mr. Teoh Chun Ming, Mr. Peter Edward Jackson and Mr. Charles Matthew Pecot III.

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