Mayer : LITIGATION

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.

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1116)

LITIGATION

This announcement is made by Mayer Holdings Limited (the "Company" together with its subsidiaries, the "Group") pursuant to Rule 13.09(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Cap. 571, Laws of Hong Kong).

The board (the "Board") of directors (the "Directors") of the Company wishes to announce that on 14 April 2021, the Company received two writs of summons under action number HCA 548 of 2020 ("HCA 548 Writ") and HCA 213 of 2021 ("HCA 213 Writ") issued in the High Court of Hong Kong Special Administrative Region by the solicitors acting for plaintiffs against the Company (as defendant). The plaintiffs alleged that the Company are indebted to them pursuant to convertible notes and a promissory note issued in May 2011 by the Company.

As stated in the statement of claim attached to HCA 548 Writ, Simsen Capital Finance Limited, being the plaintiff, is seeking various reliefs including:

1. the principal amounts of convertible notes of HK$90,000,000 in aggregate;
2. the interest in the sum of HK$13,500,000 at the rate of 5% per annum from 9 May 2011 to 9 May 2014;

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1. the interest on the principal amount of convertible notes of HK$90,000,000 in aggregate at the rate of 5% per annum from 9 May 2014 until full repayment;
2. further or alternatively, damages;
3. interest pursuant to section 48 of the High Court Ordinance (Cap.4);
4. costs; and
5. any other relief.

As stated in the statement of claim attached to HCA 213 Writ, Spring Sky Limited, being the plaintiff, is seeking various reliefs including:

1. the principal amount of a promissory note of HK$300,000,000;
2. interest;
3. further or alternatively, interest pursuant to section 48 of the High Court Ordinance (Cap.4); and
4. costs.

The Company is currently seeking legal advice on the writ of summons. The Company will keep the shareholders of the Company and potential investors informed of any further material developments in connection with the above proceedings by way of further announcement(s) as and when appropriate.

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The Shareholders and potential investors of the Company are advised to exercise caution when dealing in the shares of the Company.

By order of the Board

Mayer Holdings Limited

Xu Lidi

Chairman and Executive Director

Hong Kong, 14 April 2021

As at the date hereof, the Board comprises four executive Directors, namely, Mr. Xu Lidi, Mr. Lee Kwok Leung, Mr. Zhou Shi Hao and Mr. Chen Zhirui; one non-executive Director, namely, Mr. Wang Dongqi; and three independent non-executive Directors, namely, Mr. Lau Kwok Hung, Mr. Cheung, Eddie Ho Kuen and Dr. Li Yutong.

* For identification purpose only

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