Value Convergence Holdings Limited — Capital/Financing Update 2021

Jul 21, 2021

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 any securities of the Company.

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Value Convergence Holdings Limited

(Incorporated in Hong Kong with limited liability) Website: http://www.vcgroup.com.hk

(Stock Code: 821)

SUPPLEMENTAL ANNOUNCEMENT IN RELATION TO PLACING OF NEW SHARES UNDER GENERAL MANDATE

Reference is made to the announcement of Value Convergence Holdings Limited (the “ Company ”) dated 2 July 2021 in relation to the Placing (the “ Placing Announcement ”). Capitalised terms used herein, unless otherwise defined, shall have the same meanings as those defined in the Placing Announcement.

This announcement is made to provide supplemental information in relation to the Placing.

The Completion

As disclosed in the Placing Announcement, the Placing Period is expiring on 23 July 2021, and the Completion Date shall be any Business Day falling within five Business Days after the Closing Date. Literally, the Completion Date is expected to be falling no later than 10 August 2021.

As at the date of this announcement, the Placing Agent has already identified all Placees for the Placing Shares, and the Completion is expected to take place soon. Further announcement(s) will be made by the Company according to the Listing Rules to update the Shareholders and investors of the Company as and when appropriate.

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Use of proceeds of the Placing

As disclosed in the Placing Announcement, the maximum net proceeds from the Placing (after deducting the commission payable to the Placing Agent, professional fees and other related costs and expenses incurred in the Placing) will be approximately HK$68.8 million which will be used for (i) margin financing of approximately HK$15 million; (ii) money lending business of approximately HK$15 million; (iii) general working capital including but not limited to rental and salary expenses of approximately HK$20 million; and (iv) potential investment opportunities of approximately HK$18.8 million. The Company currently does not have any intention to utilise the net proceeds for the acquisitions as announced by the Company on 2 July 2021 (the “ Acquisitions ”) or for the development of the target group’s business (as announced by the Company on 2 July 2021).

The Acquisitions and the Placing

The Placing Agreement and the sale and purchase agreement dated 2 July 2021 (the “ Sale and Purchase Agreement ”) are not inter-conditional upon each other. The completion of the Acquisitions shall take place within 20 business days after the fulfillment (or waived, if applicable) of the conditions precedent as set out in the Sale and Purchase Agreement.

Shareholders and potential investors of the Company should note that the Completion is subject to the fulfillment of the conditions precedent under the Placing Agreement. As the Placing may or may not proceed, Shareholders and potential investors of the Company are reminded to exercise caution when dealing in the securities of the Company.

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

Hong Kong, 21 July 2021

As at the date of this announcement, the Board comprises two executive Directors, namely, Mr. Fu Yiu Man, Peter (Chairman) and Mr. Lin Hoi Kwong, Aristo; and three independent non-executive Directors, namely, Mr. Wong Chung Kin, Quentin, Mr. Wong Kam Choi, Kerry, MH and Mr. Siu Miu Man, Simon, MH.

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