Hong Kong Building and Loan Agency : VOLUNTARY ANNOUNCEMENT (in PDF)

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The Hong Kong Building and Loan Agency Limited ࠰ಥܔ܊൲ಛϞࠢʮ̡

(Incorporated in Hong Kong with limited liability)

(Stock code: 145)

VOLUNTARY ANNOUNCEMENT

This is a voluntary announcement made by The Hong Kong Building and Loan Agency Limited (the "Company").

References are made to the announcements of the Company dated 6 December 2013, 11 April

• 2014, 16 June 2014, 11 September 2014, 22 September 2014, 19 November 2014, 13 March

• 2015, 27 March 2015 and 31 March 2016, and the circular of the Company dated 11 April 2014 (the "Circular") in relation to, among other things, the Acquisition. Unless otherwise stated, capitalised terms used herein shall have the same meaning as those defined in the Circular.

The Board wishes to inform the shareholders of the Company that the Company proposes to enter into and implement a scheme of arrangement pursuant to Sections 670 and 673 of the Companies Ordinance (Chapter 622 of the Laws of Hong Kong) (the "Scheme"), the purpose of which is to settle and discharge all liabilities under the convertible bonds and promissory notes issued by the Company in relation to the Acquisition.

The Company is pleased to announce that an application has been filed with the Court of First Instance of the High Court of Hong Kong ("Court") seeking an order ("Convening Order", and the hearing at which such an order was considered, the "Convening Hearing") to, among other things, convene a meeting ("Scheme Meeting") of certain creditors of the Company. The Convening Hearing is fixed on 14 May 2019.

Copy of the proposed Scheme together with an explanatory statement, appendices thereto and related documents containing detailed information regarding the Scheme will be made available to the creditors in such manner as prescribed by the Convening Order.

If the Scheme is approved at the Scheme Meeting, an order will then be sought from the Court sanctioning the Scheme ("Sanction Order").

If the Sanction Order is made, the Scheme will become effective upon registration of the Sanction Order with the Companies Registry of Hong Kong. The Company shall provide updates by making further announcement(s) as and when appropriate.

The release of this announcement does not necessarily mean that the Scheme will be successfully implemented and completed.

By order of the Board

The Hong Kong Building and Loan Agency Limited

Chong Kok Leong

Executive Director

Hong Kong, 10 January 2019

As at the date of this announcement, the Board comprises Dr. Li Ai Guo, Mr. Chong Kok Leong and Mr. Zhuang Miaozhong being the executive Directors; and Mr. Choy Hiu Fai, Eric,

Mr. Huang Lizhi and Mr. Ng Kay Kwok being the independent non-executive Directors.