Mayer : FINAL JUDGEMENT - UPDATES ON THE WINDING UP PETITION AGAINST GZ MAYER

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(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1116)

FINAL JUDGEMENT -

UPDATES ON THE WINDING UP PETITION

AGAINST GZ MAYER

References are made to the announcements of the Company dated 20 December 2017, 9 October 2018, 31 October 2018, 4 January 2019 and 20 May 2019 (the "Announcements") in relation to the winding up petition against GZ Mayer filed to the Intermediate Court by Wealth & Health Investments Limited and Taishun Industrial (Inner Mongolia) Food Co., Limited (the "Plaintiffs") of (2017) 粵01民初396號 in the PRC. The Intermediate Court had heard the above winding up petition on 27 December 2018. GZ Mayer recently received a civil judgement letter dated 5 May 2019. The judgement results stated that all claims by the Plaintiffs were rejected and the Plaintiffs were liable to all the litigation costs of the petition. Unless otherwise indicated herein, the terms used in this announcement shall have the same meanings as those defined in the Announcements.

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The Plaintiffs disagreed with the above judgement of the Intermediate Court and appealed to the Higher People's Court of Guangdong Province of the People's Republic of China (the "Higher Court") by submitting a petition for appeal. In June and August 2019, the Intermediate Court served the Advices of Advance Payment of the Costs of Appeal*（《預交 上訴費通知書》）(the "Advices") to the Plaintiffs respectively, who have neither paid the case acceptance fee for the second instance of the litigation by the deadline as stipulated in the Advices nor fulfilled its legal obligation in the second instance of the litigation. As such, the Higher Court issued a civil judgement letter (no.: (2019)粵民終1703號) on 27 August 2019, stating that the appeal of the case shall be treated as having been voluntarily withdrawn by the Plaintiffs and such judgement shall be final.

By order of the board

Mayer Holdings Limited

Xu Lidi

Executive Director

Hong Kong, 6 September 2019

As at the date hereof, the board of directors of the Company comprises two executive directors, namely, Mr. Lee Kwok Leung and Mr. Xu Lidi; one non-executive director, namely, Mr. Wang Dongqi; and three independent non-executive directors, namely, Mr. Lau Kwok Hung, Mr. Deng Shimin and Mr. Cheung, Eddie Ho Kuen.

• For identification purpose only

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