Kingwell Group Limited — M&A Activity 2016

Dec 16, 2016

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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(Incorporated in Bermuda with limited liability)

(Stock Code: 559)

FURTHER EXTENSION OF LONG STOP DATE IN RELATION TO THE ACQUISITION OF THE ENTIRE SHARE CAPITAL OF EMISSION PARTICLE SOLUTION SWEDEN AB

Reference is made to the announcements of DeTai New Energy Group Limited (the ‘‘Company’’) dated 29 July 2016 and 29 October 2016 respectively in respect of the Acquisition (the ‘‘Announcements’’). Unless otherwise specified, capitalised terms used herein shall have the same meanings as those defined in the Announcements.

As disclosed in the Announcements, in the event that, among others, the conditions precedent of the Sale and Purchase Agreement have not been satisfied, or waived by the Purchaser, on or before 16 December 2016 (the ‘‘Long Stop Date’’) (or such later date as the parties to the Sale and Purchase Agreement may agree), the Purchaser or the Vendors (as the case may be) may terminate the Sale and Purchase Agreement with immediate effect by written notice to the Vendors or the Purchaser (as the case may be).

As additional time is required to satisfy the conditions precedent of the Sale and Purchase Agreement, the Board announces that after arm’s length negotiations, the Vendors and the Purchaser entered into an extension letter on 16 December 2016 to further extend the Long Stop Date to 31 December 2016 (or such later date as the parties to the Sale and Purchase Agreement may agree).

Save as disclosed above, all material terms and conditions of the Sale and Purchase Agreement remain unchanged.

As the Completion is subject to the satisfaction and/or waiver (where applicable) of the conditions precedent set out in the Sale and Purchase Agreement, the Acquisition may or may not proceed to Completion. Shareholders and potential investors of the Company should exercise caution when dealing in the shares or any securities of the Company.

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

Hong Kong, 16 December 2016

As at the date of this announcement, the executive Directors are Mr. Wong Hin Shek and Mr. Chi Chi Hung, Kenneth; 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.