Burwill : Appointment of Independent Non-Executive Directors

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.

(Provisional Liquidators Appointed)

(Incorporated in Bermuda with limited liability)

(Stock Code: 24)

APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTORS

The Company would like to announce that in order to reconstitute the Board, Mr. Chan Kai Nang (陳 啟 能 ) ("Mr. Chan") and Mr. Wong Wai Keung, Frederick (黃 煒 強) ("Mr. Wong") have been appointed as independent non-executive Directors with effect from 14 September 2020.

Detailed biographical information of the new independent non-executive Directors are set out below:

Mr. Chan Kai Nang

Mr. Chan, aged 74, holds a Postgraduate Diploma in Management Studies from The University of Hong Kong in 1976 and a Bachelor's degree of Laws from the University of London in 1990. Mr. Chan also completed the Stanford Executive Program from the Graduate Business School of Stanford University and the Senior Transport Management Programme from the Ashridge Centre for Transport Management. Mr. Chan is an associate member of The Chartered Institute of Management Accountants (formerly known as The Institute of Cost and Management Accountants) in the United Kingdom, a member of The Hong Kong Institute of Certified Public Accountants and a fellow member of The Association of Certified Accountants. During the past 45 years, Mr. Chan worked as senior executive in major multinational and local corporations engaged in different industries ranging from textile, toys, electronics, and electrical manufacturing, transportation, property developments and hotel operations as well as construction materials manufacturing (including cement and steel slake). Mr. Chan was the Deputy Chief Executive of the Land Development Corporation (replaced by Urban Renewal Authority in 2001).

Mr. Chan is currently an independent non-executive director of Soundwill Holdings Limited (stock code: 878) since March 2009 and an independent non-executive director of PanAsialum Holdings Company Limited (stock code: 2078) ("PanAsialum") since January 2020. The shares of both companies are listed on the Main Board of the Stock Exchange. He was also an independent non-executive director of PanAsialum during the period from February 2017 to January 2018, an independent non-executive director of Prosperity International Holdings (H.K.) Limited (stock code: 803) from August 2010 to September 2019, an independent non-executive director of FDB Holdings Limited (now known as Dafy Holdings Limited) (stock code: 1826) from 16 September 2015 to 12 January 2018, an executive director and the managing director of Galaxy Entertainment Group Limited (formerly known as K. Wah Construction Materials Limited (stock code: 27) ("K. Wah Construction") from 2003 to 2008 and an adviser of K. Wah Construction from May 2008 until his retirement in June 2014. The shares of the aforesaid companies are listed on the Main Board of the Stock Exchange. He was formerly an independent

1

non-executive director of Asian Capital Holdings Limited (now known as ZZ Capital International Limited) (stock code: 8295) and Steed Oriental (Holdings) Company Limited (stock code: 8277), the shares of both companies are listed on the GEM of the Stock Exchange.

As of the date of this announcement, Mr. Chan confirmed that, save as disclosed herein:

1. he has not taken any other position in the Group;
2. he does not have any relationship with any other director(s), senior management, substantial or controlling shareholders of the Company; and
3. he does not have any interests in the shares of the Company within the meaning of Part XV of the SFO.

In accordance with article 92 of the Bye-Laws, Mr. Chan's appointment will be effective until conclusion of the next general meeting of the Company, and Mr. Chan shall then be eligible for re-election.

Pursuant to his letter of appointment with the Company, Mr. Chan is entitled to a director's fee of HK$20,000 per month.

Save as disclosed herein, the Board is not aware of any other matters relating to the appointment of Mr. Chan that will need to be brought to the attention of the Shareholders and there is no other information which is required to be disclosed pursuant to Rule 13.51(2)(h) to 13.51(2)(v) of the Listing Rules.

Mr. Wong Wai Keung, Frederick

Mr. Wong, aged 64, holds a master's degree in electronic commerce from Edith Cowen University, Western Australia. Mr. Wong has been a fellow member of the Institute of Chartered Accountants in England and Wales since 1993 and the Hong Kong Institute of Certified Public Accountants since 1991. He has over 40 years of accounting, finance, audit, tax and corporate finance experience and has worked at an international certified public accountants firm and listed companies in the United Kingdom, New Zealand, Hong Kong and Thailand.

Mr. Wong is currently an executive director of CF Energy Corp. (formerly known as Changfeng Energy Inc.) (stock code: CFY), the shares of which are listed on the Toronto Venture Exchange (TSX-V), an independent non-executive director, chairman of the nomination committee and a member of the audit committee and the remuneration committee of China Infrastructure & Logistics Group Ltd. (formerly known as CIG Yangtze Ports PLC) (stock code: 1719) ("China Infrastructure"), the shares of which are listed on the Main Board of the Stock Exchange, an independent non-executive director, chairman of the audit committee and a member of the remuneration committee of Perfect Group International Holdings Limited (stock code: 3326), the shares of which are listed on the Main Board of the Stock Exchange, an independent non- executive director, chairman of the audit committee and the risk management committee and a member of the remuneration committee and the nomination committee of Wah Sun Handbags International Holdings Limited (stock code: 2683), the shares of which are listed on the Main Board of the Stock Exchange, and an independent non-executive director, chairman of the audit committee, a member of the nomination committee, the remuneration committee and the risk management committee of Da Sen Holdings Limited (stock code: 1580), the shares of which are listed on the Main Board of the Stock Exchange.

Mr. Wong had been the chief financial officer, company secretary and authorised representative of Amber Hill Financial Holdings Limited (former known as Asia Investment Finance Group

2

Limited) (stock code: 0033) since September 2017 until he resigned from such positions in

November 2017, the chief financial officer of APAC Resources Limited (stock code: 1104) ("APAC Resources") since January 2011 and the company secretary of APAC Resources between April 2011 and December 2011 and since February 2013 until he resigned from such positions in July 2016, and a consultant to APAC Resources between August 2016 and October 2016, the chief financial officer, company secretary and authorised representative of China Infrastructure from January 2001 to January 2011, and an executive director of Hwa Kay Thai Holdings Limited (now known as China Solar Energy Holdings Limited) (stock code: 0155) from 1996 to 1999. The shares of the aforesaid companies are listed on the Main Board of the Stock Exchange.

As of the date of this announcement, Mr. Wong confirmed that, save as disclosed herein:

1. he has not taken any other position in the Group;
2. he does not have any relationship with any other director(s), senior management, substantial or controlling shareholders of the Company; and
3. he does not have any interests in the shares of the Company within the meaning of Part XV of the SFO.

In accordance with article 92 of the Bye-Laws, Mr. Wong's appointment will be effective until conclusion of the next general meeting of the Company, and Mr. Wong shall then be eligible for re-election.

Pursuant to his letter of appointment with the Company, Mr. Wong is entitled to a director's fee of HK$20,000 per month.

Save as disclosed herein, the Board is not aware of any other matters relating to the appointment of Mr. Wong that will need to be brought to the attention of the Shareholders and there is no other information which is required to be disclosed pursuant to Rule 13.51(2)(h) to 13.51(2)(v) of the Listing Rules.

3

DEFINITIONS

In this announcement, unless the context otherwise requires, the following terms shall have the respective meanings set out opposite to them:-

"Board"	the board of the Directors
"Bye-Laws"	the bye-laws of the Company
"Company"	Burwill Holdings Limited (Provisional Liquidators Appointed), a
	company incorporated in Bermuda with limited liability, and the
	shares of which are listed on the Main Board of the Stock Exchange
	(stock code: 24)
"Director(s)"	the directors of the Company
"Group"	the Company and its subsidiaries incorporated in Hong Kong, the
	People's Republic of China and elsewhere
"Hong Kong"	the Hong Kong Special Administrative Region of the People's
	Republic of China
"Listing Rules"	the Rules Governing the Listing of Securities on the Stock Exchange
"Provisional Liquidators"	Messrs. So Man Chun and Jong Yat Kit, being the joint and several
	provisional liquidators of the Company acting as agents without
	personal liability
"SFO"	Securities and Futures Ordinance (Chapter 571 of the Laws of Hong
	Kong)
"Shareholder(s)"	holder(s) of the share(s) of the Company
"Stock Exchange"	The Stock Exchange of Hong Kong Limited
"HK$"	Hong Kong dollar(s), the lawful currency of Hong Kong

For and on behalf of

Burwill Holdings Limited

(Provisional Liquidators Appointed)

So Man Chun

Jong Yat Kit

Joint and Several Provisional Liquidators Acting as agents of the Company without personal liability

Hong Kong, 14 September 2020

As at the date of this announcement, the Board comprises Mr. Huang Shenglan as non-executive director; and Mr. Chan Kai Nang and Mr. Wong Wai Keung, Frederick as Independent Non- executive Directors.

4