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.

ARES ASIA LIMITED

(Incorporated in Bermuda with limited liability)

(Stock Code: 645)

INSIDE INFORMATION

The board of directors (the ''Board'') of Ares Asia Limited (the ''Company'') refers to the Company's announcement dated 26 February 2021, terms defined in which have the same meanings when used in this announcement. After seeking legal advice and considering the costs and benefits of pursuing an appeal, the Board has determined that the Company will not appeal against the judgment in favour of Landway.

By Order of the Board

ARES ASIA LIMITED RUAYRUNGRUANG Woraphanit

Chairlady

Hong Kong, 15 March 2021

As at the date of this announcement, the executive directors of the Company are Ms. RUAYRUNGRUANG Woraphanit (Chairlady) and Mr. LAI Yi-Chun (or Mr. Robert LAI), and the independent non-executive directors of the Company are Mr. CHANG Jesse, Mr. NGAN Hing Hon and Mr. YEUNG Kin Bond, Sydney.

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Ares Asia Limited published this content on 15 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 March 2021 08:42:08 UTC.