Welife Technology Limited — Board/Management Information 2021

Feb 11, 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.

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PALACE BANQUET HOLDINGS LIMITED 首灃控股有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 1703)

INSIDE INFORMATION REQUISITION FOR AN EXTRAORDINARY GENERAL MEETING FOR REMOVAL OF A DIRECTOR

This announcement is made by Palace Banquet Holdings Limited (the ‘‘Company’’ and together with its subsidiaries, collectively the ‘‘Group’’) pursuant to Rule 13.09(2)(a) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the ‘‘Listing Rules’’) and the Inside Information Provisions (as defined under the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

The board (the ‘‘Board’’) of directors (the ‘‘Directors’’) of the Company would like to inform the shareholders (the ‘‘Shareholders’’) of the Company that the Board received a written requisition which was delivered by hand on 11 February 2021 (the ‘‘Written Requisition’’) from a registered shareholder of the Company, Agile Valley Limited, holding more than 10% of the total issued shares of the Company, requesting the Board to convene an extraordinary general meeting in accordance with Articles 83(5) of the Articles of Associations of the Company for passing the resolution referred to in the Written Requisition which is set out below:

‘‘THAT Mr. Tam Kar Wai be removed as an executive director of the Company with immediate effect upon passing of this resolution.’’

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The Board is in the course of seeking legal advice as to the appropriate course of action to be taken by the Company in respect of the Written Requisition. Upon obtaining such advice, the Board would transact the matters set out in Written Requisition and proceed duly to convene an extraordinary general meeting by preparing a circular containing, among other things, details of the resolution referred to in the Written Requisition, and notice of the extraordinary general meeting with proxy form for sending to the Shareholders in compliance with the applicable Listing Rules.

By order of the Board Palace Banquet Holdings Limited Chan Shou Ming Chairman

Hong Kong, 11 February 2021

As at the date of this announcement, the executive directors of the Company are Mr. Chan Shou Ming, Ms. Chen Xiao Ping, Ms. Qian Chunlin and Mr. Tam Kar Wai; and the independent non-executive directors of the Company are Mr. Chan Koon Yuen Windaus, Mr. Ng Kwok Tung, Mr. Yue Ming Wai Bonaventure and Mr. Chan Chung Yin Victor.

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