Willas-Array Electronics (Holdings) Limited — Legal Proceedings Report 2017

Jun 19, 2017

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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WILLAS-ARRAY ELECTRONICS (HOLDINGS) LIMITED 威雅利電子 ( 集團 ) 有限公司

(Incorporated in Bermuda with limited liability)

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

UPDATE ON DISPUTE INVOLVING ASSOCIATED COMPANY

– HEARING DATES FOR APPEAL AGAINST STRIKE-OUT DECISION AND APPEAL AGAINST WINDING-UP ORDER

This announcement is made by the Company pursuant to Rule 13.09 of the HK Listing Rules and the Inside Information Provisions under Part XIVA of the SFO, as well as in accordance with Rule 703 of the Listing Manual of the Singapore Exchange Securities Trading Limited.

The board of directors (the “Board”) of Willas-Array Electronics (Holdings) Limited (the “Company” and together with its subsidiaries, the “Group”) refers to the announcement dated February 20, 2017 (the “February 2017 Announcement”) and the announcement dated April 7, 2017 (the “April 2017 Announcement”). Unless the context requires otherwise, capitalised terms used herein shall have the same meanings as defined in the February 2017 Announcement and the April 2017 Announcement.

The Company was informed by GW Electronics that (1) the Registrar of Civil Appeals of the High Court of Hong Kong directed that the Appeal against Strike-out Decision and the appeal against the Winding-up Order (in respect of which GW Electronics had filed a notice of appeal on February 2, 2017 seeking to appeal and set aside the Winding-up Order (as stated in the February 2017 Announcement)) (the “Appeal against Winding-up Order”) shall be heard together; and (2) the hearing dates of the Appeal against Strike-out Decision and the Appeal against Windingup Order have been fixed on January 18 and 19, 2018.

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The Board will continue to provide updates to the Shareholders as necessary in the event that it has information from GW Electronics on material developments in connection with the proceedings relating to the Winding-up Petition, the Winding-up Order, the Appeal against Strikeout Decision and the Appeal against Winding-up Order.

GW Electronics is incorporated in Hong Kong and is an associated company of the Company. The Company currently indirectly holds 49% of the paid-up share capital of GW Electronics. The remaining 51% of GW Electronics is owned by G.M.I. Technology Inc., an electronics distributor based in Taiwan and listed on the Taiwan Stock Exchange Corporation.

As GW Electronics is a limited liability corporation, the Group's maximum potential exposure to any legal claim by Toshiba Asia against GW Electronics, whether arising from and in connection with the Winding-up Order, will be limited to the Group's equity interest in GW Electronics. For the avoidance of doubt, the Group has not extended any corporate guarantees to, or indemnities in favour of, Toshiba Asia in respect of GW Electronics.

Shareholders and potential investors are advised to exercise caution when dealing in the shares of the Company, and, in case of doubt, to seek independent advice from professional or financial advisers.

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

Hong Kong/Singapore, June 19, 2017

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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