Comtec Solar Systems Group Limited — Capital/Financing Update 2016

Mar 29, 2016

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卡姆丹克太陽能系統集團有限公司 Comtec Solar Systems Group Limited

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 712)

TERMINATION OF SHARE TRANSFER AGREEMENT

Reference is made to the announcement of the Comtec Solar Systems Group Limited (‘‘Company’’) dated 26 January 2015 (‘‘Announcement’’) in relation to the proposed disposal of Comtec New Energy (HK). Unless otherwise defined, capitalized terms used in this announcement shall have the same meaning as those defined in the Announcement.

The Board announces that, in view of certain closing condition under the Share Transfer Agreement not having been satisfied as at the date of this announcement, on 25 March 2016, Comtec Solar Cayman and New Energy Management entered into the termination agreement (‘‘Termination Agreement’’) to terminate the proposed disposal of Comtec New Energy (HK) based on arm’s length negotiation. Pursuant to the Termination Agreement, Comtec Solar Cayman and New Energy Management agreed that, among others, subject to satisfaction of certain conditions relating to the board of Comtec New Energy (HK), (i) the Share Transfer Agreement shall be fully terminated and the parties shall not be obliged to perform the obligations thereunder; and (ii) the parties shall have no rights, claims, liabilities, demand, and costs and expenses against the other party under or in respect of the Share Transfer Agreement, any transaction documents contemplated under the Share Transfer Agreement and/or any related circumstances and/or reasons and the parties irrevocably and unconditionally surrendered and waived all related rights and powers.

The Directors are of the view that the termination of the Share Transfer Agreement will not have material adverse impact on the operation and financial position of the Group.

By order of the board of Comtec Solar Systems Group Limited John Zhang Chairman

Shanghai, the People’s Republic of China, 29 March 2016

As at the date of this announcement, the executive Directors are Mr. John Zhang, Mr. Chau Kwok Keung and Mr. Shi Cheng Qi, the non-executive Director is Mr. Donald Huang, and the independent non-executive Directors are Mr. Leung Ming Shu, Mr. Kang Sun and Mr. Daniel DeWitt Martin.