CW Hoildings : RECOGNITION OF THE APPOINTMENT OF JOINT PROVISIONAL LIQUIDATORS BY THE HIGH COURT OF HONG KONG AND THE HIGH COURT OF THE REPUBLIC OF SINGAPORE

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CW GROUP HOLDINGS LIMITED

(IN PROVISIONAL LIQUIDATION)

創達科技控股有限公司

(臨時清盤中)

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 1322)

UPDATES ON

RECOGNITION OF THE APPOINTMENT OF JOINT PROVISIONAL LIQUIDATORS BY THE HIGH COURT OF HONG KONG AND THE HIGH COURT OF THE REPUBLIC OF SINGAPORE

This announcement is made by CW Group Holdings Limited (In Provisional Liquidation) (the

"Company") pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the"Stock Exchange") and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Reference is made to the announcements of the Company dated 2 July 2018, 4 July 2018, 9 July 2018, 13 July 2018, 27 July 2018, 7 August 2018, 10 August 2018, 14 August 2018, 24 August

2018, 17 September 2018, 21 January 2019 and 8 February 2019 (the"Announcements"). Capitalised terms used in this announcement, unless otherwise defined, shall have the same meanings as those defined in the aforesaid announcements of the Company.

As mentioned in the Announcements, Mr Man Chun So of PricewaterhouseCoopers Limited, Mr Yat Kit Jong of PricewaterhouseCoopers Consultants (Shenzhen) Limited, and Mr Simon Richard Conway of PwC Corporate Finance & Recovery (Cayman) Limited were replaced as the JPLs of the Company by the Consent Order on 29 January 2019.

RECOGNITION OF THE APPOINTMENT OF JOINT PROVISIONAL LIQUIDATORS BY THE HIGH COURT OF HONG KONG

Upon applications made by the JPLs to the Grant Court of Cayman Islands and the High Court of Hong Kong on 12 August 2019 and 17 September 2019 respectively, the appointment of the JPLs was recognised by the High Court of Hong Kong by an order of the Honourable Mr Justice Harris dated 24 September 2019.

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RECOGNITION OF THE APPOINTMENT OF JOINT PROVISIONAL LIQUIDATORS BY THE HIGH COURT OF THE REPUBLIC OF SINGAPORE

Upon applications made by the JPLs to the High Court of the Republic of Singapore on 11 September 2019, the appointment of the JPLs was recognised by the High Court of the Republic of Singapore by an order of Justice Vinodh Coomaraswamy in Chambers dated 11 October 2019.

The recognition orders have empowered the JPLs to, amongst other things, conduct investigation into the affairs of the Company and its subsidiaries by way of examination and taking control of books and records from the counterparties, within and outside the Cayman Islands. The JPLs are working with legal advisers in each of the respective jurisdictions to exercise their powers accordingly.

SUSPENSION OF TRADING

At the request of the Company, trading in the shares of the Company on the Stock Exchange has been halted with effect from 3:22 p.m. on 11 July 2018. Trading in the shares will remain suspended until further notice.

Shareholders of the Company and potential investors are advised to exercise caution when dealing in the shares of the Company.

For and on behalf of

CW Group Holdings Limited

(In Provisional Liquidation)

Man Chun So

Yat Kit Jong

Simon Richard Conway

Joint Provisional Liquidators

Acting as agents without personal liability

Hong Kong, 1 November 2019

As at the date of this announcement, the executive Directors are Mr. WONG Koon Lup and Mr. WONG Mun Sum and the non-executive Director is Mr. ZHANG Bing Cheng.

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