Kingwell Group Limited — Capital/Financing Update 2018

Feb 15, 2018

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 appears for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for the securities of the Company.

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(Incorporated in Bermuda with limited liability)

(Stock Code: 559)

FURTHER DELAY IN DESPATCH OF CIRCULAR IN RESPECT OF THE PROPOSED RIGHTS ISSUE AND CHANGE IN BOARD LOT SIZE

References are made to the announcement of DeTai New Energy Group Limited (the ‘‘Company’’) dated 3 January 2018 (the ‘‘Announcement’’) in relation to, amongst others, the proposed Rights Issue on the basis of two (2) Rights Shares for every one (1) existing Share held on the Record Date and the announcements of the Company dated 24 January 2018 and 5 February 2018 (the ‘‘Delay Despatch Announcements’’) in relation to, among others, the delay in despatch of circular in respect of the Rights Issue. Unless otherwise defined, capitalised terms used herein shall have the same meanings as those defined in the Announcement.

FURTHER DELAY IN DESPATCH OF CIRCULAR

As disclosed in the Delay Despatch Announcements, a circular (the ‘‘Circular’’) containing, among other things, (i) further details of the Rights Issue; (ii) a letter of recommendation from the Independent Board Committee to the Independent Shareholders; (iii) a letter of advice from the independent financial adviser to the Independent Board Committee and the Independent Shareholders in relation to the Rights Issue; (iv) financial information on the Company; and (v) a notice convening the SGM would be despatched by the Company to the Shareholders on or before Thursday, 15 February 2018.

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As additional time is required for the Company to prepare and finalise the information to be contained in the Circular, the Company expects the date of despatch of the Circular will be further postponed to a date falling on or before Thursday, 1 March 2018. Further announcement(s) will be made by the Company on the revised expected timetable of the Rights Issue, as and when appropriate.

By order of the Board DeTai New Energy Group Limited Wong Hin Shek Chairman and Executive Director

Hong Kong, 15 February 2018

As at the date of this announcement, the executive Directors are Mr. Wong Hin Shek, Mr. Chi Chi Hung, Kenneth, Mr. Shek Yat Him and Mr. Chan Wai Ki; the non-executive Director is Mr. Chui Kwong Kau; and the independent non-executive Directors are Mr. Chiu Wai On, Mr. Man Kwok Leung and Dr. Wong Yun Kuen.

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