GoFintech Quantum Innovation Limited — M&A Activity 2012

Oct 9, 2012

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.

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NEW TIMES ENERGY CORPORATION LIMITED 新 時 代 能 源 有 限 公 司[*]

(incorporated in Bermuda with limited liability)

(Stock Code: 00166)

UNUSUAL PRICE AND TRADING VOLUME MOVEMENTS AND

RESUMPTION OF TRADING

UNUSUAL PRICE AND TRADING VOLUME MOVEMENTS

The Board has noted the recent increases in the price and trading volume of the shares of the Company and wishes to state that, the Board is not aware of any reason for such increases, save and except for the Acquisition as indicated below.

THE ACQUISITION

The Board is pleased to announce that the Company has recently acquired an oil and gas operating company, 7 well bores and 280 acres located in the Uinta Basin, Utah, United States of America.

RESUMPTION OF TRADING

At the request of the Company, trading in the shares of the Company on the Stock Exchange was suspended with effect from 1:00 p.m. on 9 October 2012 pending the release of this announcement. Application has been made to the Stock Exchange for the resumption of trading in the shares of the Company on the Stock Exchange from 9:00 a.m. on 10 October 2012.

UNUSUAL PRICE AND TRADING VOLUME MOVEMENTS

This announcement is made at the request of The Stock Exchange of Hong Kong Limited (the ‘‘Stock Exchange’’).

• For identification purpose only

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The board of directors (the ‘‘Board’’) of New Times Energy Corporation Limited (the ‘‘Company’’) has noted the recent increases in the price and trading volume of the shares of the Company and wishes to state that, the Board is not aware of any reason for such increases, save and except the Acquisition as indicated below.

Save and except the Acquisition as indicated below, the Board confirms that there are no negotiations or agreements relating to any intended acquisitions or realisations which are discloseable under Rule 13.23 of the Rules Governing the Listing of Securities on the Stock Exchange (the ‘‘Listing Rules’’), neither is the Board aware of any matter discloseable under the general obligation imposed by Rule 13.09 of the Listing Rules, which is or may be of a price-sensitive nature.

THE ACQUISITION

The Board is pleased to announce that the Company has recently acquired an oil and gas operating company, 7 well bores and 280 acres located in the Uinta Basin, Utah, United States of America (the ‘‘Acquisition’’).

According to the agreement signed between the Company and Tiger Energy Partners Utah Acq., LLC, the Company acquired (i) a 100% working interest in the 80% net revenue interest of 7 well bores located in Uinta County, Utah; (ii) 280 acres, or approximately 40 acres per well, in the leases immediately surrounding such wells; and (iii) Tiger Energy Operating LLC, a company licensed and specifically formed to operate oil and gas leases in the state of Utah, United States of America for a total consideration of USD$850,000 (equivalent to approximately HK$6,630,000).

RESUMPTION OF TRADING

At the request of the Company, trading in the shares of the Company on the Stock Exchange was suspended with effect from 1:00 p.m. on 9 October 2012 pending the release of this announcement. Application has been made to the Stock Exchange for the resumption of trading in the shares of the Company on the Stock Exchange from 9:00 a.m. on 10 October 2012.

This announcement is made by the order of the Board, the directors of which individually and jointly accept responsibility for the accuracy of this announcement.

By Order of the Board New Times Energy Corporation Limited Cheng Kam Chiu, Stewart Chairman and Executive Director

Hong Kong, 9 October 2012

As at the date of this announcement, the Board comprises seven Directors, of which three are executive Directors, namely Mr. Cheng Kam Chiu, Stewart, Mr. Cheng Ming Kit and Mr. Sun Jiang Tian; one non-executive Director, namely Mr. Wong Man Kong, Peter; and three independent non-executive Directors, namely Mr. Chan Chi Yuen, Mr. Fung Siu To, Clement and Mr. Chiu Wai On.

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