Convoy Global : VOLUNTARY ANNOUNCEMENT - UPDATES ON 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.

CONVOY GLOBAL HOLDINGS LIMITED

康 宏 環 球 控 股 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1019)

VOLUNTARY ANNOUNCEMENT

UPDATES ON LITIGATION

This is a voluntary announcement made by Convoy Global Holdings Limited (the "Company") to update its shareholders and potential investors on the progress of various litigations involving the Company, its subsidiaries and officers.

LITIGATION UPDATE

Reference is made to the announcement of the Company dated 18 July 2018 (the "Voluntary Announcement on Litigations") on the Forthwise Writ and the CFL Writ commenced by Ms. Wang Pengying against, among others, the Company and two of its wholly-owned subsidiaries. Unless otherwise stated, capitalised terms used in this announcement shall have the same meanings as defined in the Voluntary Announcement on Litigations.

The striking out applications in High Court Action No. 1479 of 2018 (i.e. the Forthwise Writ) and High Court Action No. 1619 of 2018 (i.e. the CFL Writ) (collectively the "Two Actions") were heard by the Honourable Mr. Justice Coleman in the High Court of Hong Kong on 17 December 2019. On the same day, Mr. Justice Coleman delivered his judgment in favour of the Company, two of its wholly-owned subsidiaries and the other defendants that the Two Actions be struck out. Subject to any appeal Ms. Wang Pengying might file against the judgment of Mr. Justice Coleman, the Two Actions have now been finally resolved.

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CONTINUED SUSPENSION OF TRADING

At the request of the Company, trading in the Company's shares on The Stock Exchange of Hong Kong Limited was halted from 11:04 a.m. on 7 December 2017 (automatically converted to "being suspended" thereafter), and will remain suspended until further notice.

Shareholders and potential investors of the Company should exercise caution when dealing in the Company's shares.

The Company will keep its shareholders and potential investors informed of any further material development of the foregoing matters by way of announcement as and when appropriate.

By Order of the Board

CONVOY GLOBAL HOLDINGS LIMITED

Johnny Chen

Chairman and Executive Director

Hong Kong, 20 December 2019

As at the date of this announcement, the executive Directors are Mr. Johnny Chen (Chairman), Mr. Ng Wing Fai, Mr. Yap E Hock and Mr. Shin Kin Man; the non-executive Director is Mr. Chen Shih-pin; and the independent non-executive Directors are Mr. Pun Tit Shan, Mrs. Fu Kwong Wing Ting, Francine, Mr. Pak Wai Keung, Martin and Mr. Yan Tat Wah. The duties of the executive Directors namely Mr. Wong Lee Man, Ms. Fong Sut Sam and Ms. Chan Lai Yee have been suspended since 8 December 2017.

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