Willas-Array Electronics (Holdings) Limited — Regulatory Filings 2021

Feb 23, 2021

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

This announcement is made by the board of directors (the “Board”) of Willas-Array Electronics (Holdings) Limited (the “Company” and together with its subsidiaries, the “Group”) pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “HK Listing Rules”) and the Inside Information Provisions (as defined in the HK Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong), as well as in accordance with Rule 703 of the Listing Manual of Singapore Exchange Securities Trading Limited.

The Company refers to the announcement dated February 20, 2017, the announcement dated June 19, 2017, the announcement dated September 12, 2018, the announcement dated September 13, 2018, the announcement dated October 10, 2018, the announcement dated December 11, 2019, the announcement dated April 6, 2020, the announcement dated June 18, 2020 and the announcement dated November 23, 2020, relating to the ongoing legal proceedings involving GW Electronics, an associated company of the Company. Unless the context requires otherwise, capitalised terms used herein shall have the same meanings as defined in the aforementioned announcements.

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Further to the Company’s announcement dated November 23, 2020, the Company has been informed by GW Electronics that:

1. upon the application of the Applicant to the CFI (details of the relations of the Applicant with the Company and GW Electronics can be found in the Company’s announcement dated November 23, 2020), an order was made by the Honourable Madam Justice Linda Chan on February 4, 2021 (the “February 4, 2021 Order”) to the effect that:

2. (a) Condition 1 and Condition 2 had been complied with; and

3. (b) all proceedings in the Winding-up Order against GW Electronics be stayed altogether permanently.

4. GW Electronics has delivered a sealed copy of the February 4, 2021 Order to the Registrar of Companies on February 22, 2021.

The Board of the Company has been advised that, among other things, the Permanent Stay has taken effect (and therefore the board of GW Electronics has resumed full powers over GW Electronics) upon the February 4, 2021 Order being made.

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 Non-executive Director

Hong Kong/Singapore, February 23, 2021

As at the date of this announcement, the Board comprises one Non-executive Director, Leung Chun Wah (Chairman); three Executive Directors, namely Hon Kar Chun (Managing Director), Leung Hon Shing and Leung Chi Hang Daniel; and three Independent Non-executive Directors, namely Wong Kwan Seng, Robert, Iu Po Chan, Eugene and Lim Lee Meng.

In the case of inconsistency, the English text of this announcement shall prevail over the Chinese text.

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