Value Convergence Holdings Limited — Capital/Financing Update 2019

Jan 31, 2019

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)

LAPSE OF MAJOR TRANSACTION IN RELATION TO THE ACQUISITION OF THE ENTIRE ISSUED EQUITY INTEREST IN AND THE SALE LOAN OF BRIGHT ELEMENT INVESTMENTS LIMITED

References are made to the circular dated 26 September 2018 (the “ Circular ”) and the announcements dated 29 June 2018, 15, October 2018, 31 October 2018, 30 November 2018 and 31 December 2018 respectively of Value Convergence Holdings Limited (the “ Company ”), in relation to the Acquisition. Capitalised terms used in this announcement shall have the same meanings as those defined in the Circular unless otherwise defined herein.

As disclosed in the announcement of the Company dated 31 December 2018, the parties to the Agreement have agreed to extend the Long Stop Date to 31 January 2019.

The Company would like to provide an update to the Shareholders and potential investors regarding the current status of the Acquisition. As certain conditions precedent for the Acquisition under the Agreement have not been fulfilled in full (or waived) on or before 5:00 p.m. on 31 January 2019 and the parties to the Agreement have not agreed on any further extension of the Long Stop Date, the Agreement has lapsed and the Acquisition will not be proceeded.

The Board considers that the lapse of the Agreement will not have any material adverse impact on the business, operation and financial position of the Group.

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Shareholders and potential investors are advised to exercise caution when dealing in the shares of the Company.

By order of the Board of Value Convergence Holdings Limited Fu Yiu Man, Peter Chairman & Executive Director

Hong Kong, 31 January 2019

As at the date of this announcement, the board of Directors comprises seven executive Directors, namely, Mr. Fu Yiu Man, Peter (Chairman), Mr. Tin Ka Pak, Timmy, Mr. Lin Hoi Kwong, Aristo, Mr. Xie Jintai, Mr. Zhang Min, Mr. Jiang Tian and Ms. Lu Mengjia; and four independent non-executive Directors, namely, Mr. Wong Chung Kin, Quentin, Mr. Wong Kam Choi, Kerry, MH, Mr. Siu Miu Man, Simon and Mr. Chiang Ho Wai.

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