Value Convergence Holdings Limited — Board/Management Information 2012

Mar 5, 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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VALUE CONVERGENCE HOLDINGS LIMITED

(Incorporated in Hong Kong with limited liability)

Website: http://www.vcgroup.com.hk (Stock Code: 821)

APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTORS

The Board of the Company is pleased to announce that with effect from 5 March 2012:

• (1) Mr. Robert Ip has been appointed as an independent non-executive director, chairman of the nomination committee and a member of the audit committee and remuneration committee of the Company; and

• (2) Mr. Quentin Wong has been appointed as an independent non-executive director and a member of the audit committee, nomination committee and remuneration committee of the Company.

Reference is made to the announcement of Value Convergence Holdings Limited (the “ Company ”) dated 11 January 2012 in respect of the resignation of Mr. Tse On Kin as the independent non-executive director of the Company.

The board of directors (the “ Board ”) of the Company is pleased to announce that with effect from 5 March 2012:

• (1) Mr. Ip Chun Chung, Robert (“ Mr. Robert Ip ”) has been appointed as an independent non-executive director, chairman of the nomination committee and a member of the audit committee and remuneration committee of the Company; and

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• (2) Mr. Wong Chung Kin, Quentin (“ Mr. Quentin Wong ”) has been appointed as an independent non-executive director and a member of the audit committee, nomination committee and remuneration committee of the Company.

Following the appointment of Mr. Robert Ip and Mr. Quentin Wong as the independent non-executive directors and members of the audit committee of the Company with effect from 5 March 2012, the Company has four independent non-executive directors and four audit committee members and is compliant with Rules 3.10 and 3.21 of the Rules Governing the Listing of Securities (the “ Listing Rules ”) on The Stock Exchange of Hong Kong Limited (the “ Stock Exchange ”).

Particulars of Mr. Robert Ip and Mr. Quentin Wong are set out below:

Mr. Ip Chun Chung, Robert , aged 55, is a practising solicitor in Hong Kong since 1985. Currently, Mr. Robert Ip is the consultant with Messrs. Cheng, Yeung & Co., Solicitors. He is also the non-executive director and audit committee member of Poly (Hong Kong) Investment Limited (Stock Code: 119), a company being listed on the Main Board of the Stock Exchange and the independent non-executive director and audit committee member of China Data Broadcasting Holdings Limited (Stock Code: 8016), a company being listed on the Growth Enterprises Market of the Stock Exchange. Save as disclosed above, Mr. Robert Ip does not hold any directorships in other listed public companies in the past three years and does not hold any other position with the Company and other members of the Group.

Mr. Robert Ip is a member of The Law Society of Hong Kong, The Law Society of England and Wales, The Law Society of Singapore and Law Society of Australia Capital Territories. He obtained his Bachelor Degree of Arts from the University of Hong Kong and studied for his Common Professional Examination and Solicitor’s Final Examination in College of Law, Chester, United Kingdom and College of Law, Guildford, United Kingdom respectively. Mr. Robert Ip has over 29 years of experience in legal aspects and more than 13 years experience in listing related and corporate, takeover, mergers and acquisition areas.

There is no service contract entered into between the Company and Mr. Robert Ip in respect of his appointment as an independent non-executive director of the Company. Mr. Robert Ip has not been appointed for a specific term but will be subject to rotation, retirement and re-election at the annual general meeting pursuant to the Article of Association of the Company. The remuneration of Mr. Robert Ip as an independent non-executive director,

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chairman of nomination committee and a member of audit committee and remuneration committee is HK$216,000 per annum, which is determined by reference to his duties and responsibilities with the Company and the prevailing market conditions.

As at the date of this announcement, Mr. Robert Ip does not have any interest in the shares or underlying shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) (the “ SFO ”).

Save as disclosed above, Mr. Robert Ip has no relationship with any director, senior management, substantial shareholder or controlling shareholder of the Company and there is no other matter which needs to be disclosed pursuant to Rule 13.51(2)(h) to Rule 13.51(2)(w) of the Listing Rules.

Mr. Wong Chung Kin, Quentin , aged 40, has set up his own practice, Quentin Wong & Co. Certified Public Accountants (Practising) since 1 January 2005. Currently, he is an independent non-executive director and audit committee member of China Investment Fund Company Limited (Stock Code: 612), a company being listed on the Main Board of the Stock Exchange. Save as disclosed above, Mr. Quentin Wong does not hold any directorships in other listed public companies in the past three years and does not hold any other position with the Company and other members of the Group.

Mr. Quentin Wong is a fellow member of Hong Kong Institute of Certified Public Accountants, The Taxation Institute of Hong Kong and Association of Chartered Certified Accountants. Meanwhile, he is a member of The Society of Chinese Accountants & Auditors and The Institute of Chartered Accountants in England & Wales. Mr. Quentin Wong holds a bachelor of Arts degree in Accounting and Financial Management from University of Essex and a master degree of Science in Internal Auditing and Management from The City University, London. He has over 10 years working experience in audit and accounting gained from a sizeable international firm and has had almost 7 years of practicing experience.

There is no service contract entered into between the Company and Mr. Quentin Wong in respect of his appointment as an independent non-executive director of the Company. Mr. Quentin Wong has not been appointed for a specific term but will be subject to rotation,

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retirement and re-election at the annual general meeting pursuant to the Article of Association of the Company. The remuneration of Mr. Quentin Wong as an independent non-executive director and a member of audit committee, nomination committee and remuneration committee is HK$216,000 per annum, which is determined by reference to his duties and responsibilities with the Company and the prevailing market conditions.

As at the date of this announcement, Mr. Quentin Wong does not have any interest in the shares or underlying shares of the Company within the meaning of Part XV of SFO.

Save as disclosed above, Mr. Quentin Wong has no relationship with any director, senior management, substantial shareholder or controlling shareholder of the Company and there is no other matter which needs to be disclosed pursuant to Rule 13.51(2)(h) to Rule 13.51(2)(w) of the Listing Rules.

The Board would like to express its warm welcome to Mr. Robert Ip and Mr. Quentin Wong on their appointment.

By Order of the Board of Value Convergence Holdings Limited Ha Shu Tong Chief Executive Officer & Executive Director

Hong Kong, 5 March 2012

As at the date of this announcement, the Board comprises seven Executive Directors, namely, Mr. Ha Shu Tong (Chief Executive Officer), Mr. Chau King Fai, Philip, Mr. Cheng Tze Kit, Larry (Chief Investment Officer), Ms. So Wai Yee, Betty (Chief Financial Officer), Ms. Lam Yuk Ying, Elsa, Mr. Zhou Wentao and Mr. Tin Ka Pak, Timmy; two Non-executive Directors, namely, Dr. Lee Jun Sing (Chairman) and Ms. Wang Ying; and four Independent Non-executive Directors, namely, Mr. Lam Kwok Hing, Wilfred, Mr. Lam Ka Wai, Graham, Mr. Ip Chun Chung, Robert and Mr. Wong Chung Kin, Quentin.