WE : MAJOR TRANSACTION EXTENSION OF LONG STOP DATE AND COMPLETION DATE AND FURTHER DELAY IN DESPATCH OF CIRCULAR

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.

This announcement is for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for shares.

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 860)

MAJOR TRANSACTION

EXTENSION OF LONG STOP DATE AND COMPLETION DATE

AND

FURTHER DELAY IN DESPATCH OF CIRCULAR

References are made to (i) the announcement of WE Solutions Limited (the ''Company'') dated 15 August 2019 (the ''Announcement'') in respect of, among other things, the major transaction in relation to the Acquisition of approximately 86.06% of Apollo involving the issue of the Consideration Shares under the Specific Mandate and (ii) the announcement of the Company dated 31 October 2019 in relation to the delay in despatch of the Circular (the ''Delay Announcement''). Unless otherwise stated, capitalised terms used herein have the meanings ascribed thereto in the Announcement.

EXTENSION OF LONG STOP DATE AND COMPLETION DATE

On 3 January 2020 (after trading hours), the Company entered into a second supplemental agreement (the ''Second Supplemental Agreement'') with the Vendor, the Guarantor and the Target Company in respect of, among other things, the extension of the Long Stop Date.

As disclosed in the Announcement, the completion of the Acquisition is conditional upon the fulfilment (or waiver, if applicable) of all the Acquisition Conditions by 15 February 2020. Pursuant to the Second Supplemental Agreement, the Company and the Vendor have agreed to extend the Long Stop Date from 15 February 2020 to 31 March 2020.

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As disclosed in the Announcement, the completion of the Acquisition shall take place within sixty (60) days after the fulfilment of all the Acquisition Conditions and in any event on or before 15 April 2020. Due to the extension of the Long Stop Date under the Second Supplemental Agreement, the Completion Date is extended accordingly and in any event on or before 30 May 2020.

All other terms and conditions of the Agreement (as amended and supplemented by the Supplemental Agreement) shall remain unchanged.

FURTHER DELAY IN DESPATCH OF CIRCULAR

As disclosed in the Delay Announcement, the Circular containing, among other things, (i) further details of the Agreement as amended and supplemented by the Supplemental Agreement (including the Acquisition, the provision of the Bridge Loan and the issue of the Consideration Shares under the Specific Mandate), (ii) a valuation report on approximately 86.06% of the issued share capital of the Target Company, (iii) details of the Specific Mandate, (iv) other information as required under the Listing Rules and (v) a notice of the EGM was expected to be despatched to the Shareholders on or before 3 January 2020.

As additional time is required for the Company to compile information for inclusion in the Circular, the despatch date of the Circular is expected to be further postponed to a date on or before 6 March 2020.

The completion of the Acquisition is conditional upon fulfillment of the Acquisition Conditions. The issue of the Consideration Shares is subject to adjustment under the Agreement as amended by the Supplemental Agreement. Accordingly, the Acquisition and the issue of the Consideration Shares may or may not proceed. Shareholders and potential investors of the Company should exercise caution when dealing in the securities of the Company.

By order of the Board

WE Solutions Limited

Ho King Fung, Eric

Chairman

Hong Kong, 3 January 2020

As at the date of this announcement, the Board comprises two executive Directors, namely Mr. Ho King Fung, Eric (Chairman) and Mr. Sung Kin Man; one non-executive Director, namely Mr. Zhang Jinbing (Co-Chairman); and four independent non-executive Directors, namely Mr. Tam Ping Kuen, Daniel, Mr. Teoh Chun Ming, Mr. Peter Edward Jackson and Mr. Charles Matthew Pecot III.

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