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BaWang International (Group) Holding Limited 霸王國際（集團）控股有限公司*
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 01338)
VOLUNTARY ANNOUNCEMENT
UPDATE ON STATUS OF THE WINDING UP PETITION
Reference is made to the announcement (the "Announcement") of BaWang International (Group) Holding Limited (the "Company", together with its subsidiaries, the "Group") dated 27 December 2017, which included (among other things) the Winding Up Petition filed by Ms. Wan Yuhua ("Ms. Wan") with the High Court of the Hong Kong Special Administrative Region (the "High Court") to wind up Fortune Station Ltd. ("Fortune Station"), a controlling shareholder of the Company. Unless otherwise defined in this announcement, capitalised terms used in this announcement shall have the same meanings attributed to them in the Announcement.
UPDATE ON THE WINDING UP PETITION
The Company was notified that Mr. Chen Qiyuan and Ms. Wan (who are both shareholders of Fortune Station) have entered into a settlement agreement on 5 June 2018 (the "Settlement Agreement"). According to the Settlement Agreement, Mr. Chen Qiyuan and Ms. Wan have agreed to instruct their respective legal representatives to apply to the High Court to dismiss the Winding Up Petition, and on the date of the Settlement Agreement the legal representatives of the parties to the Winding Up Petition have jointly filed a consent summons with the High Court to dismiss the Winding Up Petition. The parties are now waiting for the High Court to process the said consent summons.
As stated in the Announcement, the Winding Up Petition is a matter between the shareholders of Fortune Station. Up to the date of this announcement, the Winding Up Petition has had no material impact to the business and normal operations of the Group.
The Company will make further announcement(s) to keep its shareholders and investors informed of any significant development as and when appropriate.
Shareholders and potential investors should exercise caution when dealing in the shares of the Company.
By order of the Board
BaWang International (Group) Holding Limited
WONG Sin Yung
Company Secretary
Hong Kong, 5 June 2018
As at the date of this announcement, the Board comprises three executive Directors, namely Mr. CHEN Qiyuan, Mr. CHEN Zheng He and Mr. WONG Sin Yung, and three independent non-executive Directors, namely Dr. NGAI Wai Fung, Mr. CHEUNG Kin Wing and Dr. WANG Qi.
*For identification purpose only