Willas-Array Electronics (Holdings) Limited — Share Issue/Capital Change 2015

Aug 13, 2015

Hong Kong Exchanges and Clearing Limited, The Stock Exchange of Hong Kong Limited and Singapore Exchange Securities Trading 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.

Singapore Exchange Securities Trading Limited assumes no responsibility for the correctness of any of the statements made, reports contained or opinions expressed in this announcement.

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威雅利電子 ( 集團 ) 有限公司

WILLAS-ARRAY ELECTRONICS (HOLDINGS) LIMITED

(Incorporated in Bermuda with limited liability)

(Hong Kong stock code: 854) (Singapore stock code: W12)

ADJUSTMENTS TO OUTSTANDING SHARE OPTIONS

Upon the Proposed Share Consolidation becoming effective, adjustments are required to be made to the exercise price and the number of underlying Shares comprised in the outstanding ESOS II Options.

References are made to the announcement of Willas-Array Electronics (Holdings) Limited (the “ Company ”) dated July 30, 2015 (the “ Poll Results Announcement ”) and the circular of the Company dated June 30, 2015 (the “ Circular ”) in relation to, among other things, the Proposed Share Consolidation. Unless otherwise defined, capitalized terms contained in this announcement shall have the same respective meanings as those set out in the Circular.

As disclosed in the Poll Results Announcement, the Ordinary Resolution 10 to approve the Proposed Share Consolidation was duly passed at the 2015 AGM. As all conditions of the Proposed Share Consolidation have been fulfilled, the Proposed Share Consolidation will become effective on August 17, 2015.

ADJUSTMENTS TO OUTSTANDING SHARE OPTIONS

As at the date of this announcement, there were 4,183,000 outstanding ESOS II Options pursuant to which the option-holders may subscribe for an aggregate of 4,183,000 Shares. As a result of the Proposed Share Consolidation becoming effective, the exercise price and the number of underlying Shares comprised in the outstanding ESOS II Options will be adjusted in the following manner:

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		Immediately prior to the effective	Immediately prior to the effective	Immediately after	the effective date
		date of the Proposed Share		of the Proposed Share
		Consolidation		Consolidation
				Adjusted	Adjusted
				exercise price	number of
			Number of	per	Consolidated
		Exercise price	Shares issuable	Consolidated	Shares issuable
		per Share	on the exercise	Share	on the exercise
		comprised	in full of the	comprised	in full of the
		in each	outstanding	in each	outstanding
Date of grant	Exercise period	Share Option	Share Options	Share Option	Share Options
October 2, 2009	October 2, 2011 to October 1, 2019	S$0.067	4,183,000	S$0.335	836,600

Save for the above adjustments, all other terms and conditions of the outstanding ESOS II Options remain unchanged.

By Order of the Board Willas-Array Electronics (Holdings) Limited Leung Chun Wah Chairman and Executive Director

Hong Kong/Singapore, August 13, 2015

As at the date of this announcement, the Board comprises four Executive Directors, namely Leung Chun Wah (Chairman), Kwok Chan Cheung (Deputy Chairman), Hon Kar Chun (Managing Director) and Leung Hon Shing; and three Independent Non-executive Directors, namely Jovenal R. Santiago, Wong Kwan Seng, Robert and Iu Po Chan, Eugene.

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