Mindtell Technology Limited — Capital/Financing Update 2020

May 26, 2020

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.

MINDTELL TECHNOLOGY LIMITED

(incorporated in the Cayman Islands with limited liability)

(Stock Code: 8611)

LAPSE OF MEMORANDUM OF UNDERSTANDING IN RELATION TO A POSSIBLE ACQUISITION

This announcement is made by the board of directors (the “ Board ”) of Mindtell Technology Limited (the “ Company ”, together with its subsidiaries, the “ Group ”) pursuant to Rule 17.10 of the Rules Governing the Listing of Securities on GEM of The Stock Exchange of Hong Kong Limited (the “ GEM Listing Rules ”) and the Inside Information Provisions (as defined under the GEM Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong).

Reference is made to the announcement of the Company dated 24 January 2020 (the “ Announcement ”) in respect of a non-legally binding memorandum of understanding in relation to, amongst other things, a possible acquisition of shares in Sky Regal Holdings Limited (天雄集團有限公司) by the Company. Capitalised terms used herein shall have the same meanings as those defined in the Announcement unless the context requires otherwise.

As disclosed in the Announcement, the MOU shall terminate upon execution of the SPA relating to the Possible Acquisition or on 30 April 2020, whichever is the earlier (the “ Termination Date ”).

The Board wishes to announce that, despite further negotiation and discussion, as at the date of this announcement, no SPA has been entered into between the Seller and the Mindtell Entity nor any agreement has been entered into between the Seller and the Company to extend the Termination Date. Accordingly, the MOU has lapsed and ceased to have any effect. The Possible Acquisition will not proceed.

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The Board is of the view that the lapse of the MOU does not have any material adverse impact on the business operation or financial position of the Group.

By Order of the Board Mindtell Technology Limited Chong Yee Ping Chairman

Hong Kong, 26 May 2020

As at the date of this announcement, the executive Directors are Mr. Chong Yee Ping and Mr. Liu Yan Chee James; the non-executive Directors are Mr. Siah Jiin Shyang and Mr. Lam Pang; and the independent non-executive Directors are Mr. Chan San Ping, Ms. Ho Suet Man Stella and Mr. Su Chi Wen.

This announcement, for which the Directors collectively and individually accept full responsibility, includes particulars given in compliance with the GEM Listing Rules for the purpose of giving information with regard to the Company. The Directors, having made all reasonable enquiries, confirm that to the best of their knowledge and belief the information contained in this announcement is accurate and complete in all material respects and not misleading or deceptive, and there are no other matters the omission of which would make any statement herein or this announcement misleading.

This announcement will remain on the “Latest Listed Company Information” page of the GEM website at www.hkgem.com for at least seven days after the date of publication and on the website of the Company at www.mindtellech.com.

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