Neway Group Holdings Limited : Announcements and Notices - Clarification Announcement

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong 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.

NEWAY GROUP HOLDINGS LIMITED

*

(Incorporated in Bermuda with limited liability)

(Stock Code: 00055) CLARIFICATION ANNOUNCEMENT

The board of directors ("Board") of Neway Group Holdings Limited ("Company", together with its subsidiaries, the "Group") noticed some news articles from the Hong Kong media recently in relation to the recent labour strike at one of the Group's printing factories in Long Gang District, Shenzhen, the People's Republic of China ("PRC"). Some of these articles mentioned that the strike was due to the Company failing to compensate its workers in accordance with their seniority and re-counting the years of employment in the restructuring of the abovementioned factory ("Restructuring").
In response to such articles, the Group would like to clarify that, in connection with the Restructuring, all workers' employment contracts with the Group before the Restructuring have been automatically renewed after the Restructuring and all workers' seniority before the Restructuring would be carried and cumulated into the renewed employment relationship with the Group in accordance with the labour laws of the PRC.
As at the date of this announcement, the strike has not yet ended but part of the factory production has been resumed and the management of the Group is actively resolving this incident. Further announcement will be made by the Company on the development of the incident.
Hong Kong, 15 January 2013
On behalf of the Board

Neway Group Holdings Limited Suek Ka Lun, Ernie

Chairman

As at the date of this announcement, the executive Directors are Mr. Suek Ka Lun, Ernie (Chairman) and Mr. Suek Chai Hong (Chief Executive Officer); the non-executive Directors are Dr. Ng Wai Kwan, Mr. Chan Kwing Choi, Warren and Mr. Wong Sun Fat; and the independent non-executive Directors are Mr. Tse Tin Tai, Mr. Cheng Chi Wai and Ms. Lui Lai Ping, Cecily; and Mr. Lau Kam Cheong being the alternate director to Dr. Ng Wai Kwan.

* For identification purpose only

1