Burwill : Inside Information Announcement - Updates on Convertible Bonds

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 Bermuda with limited liability) (Stock Code: 24)

INSIDE INFORMATION ANNOUNCEMENT

UPDATES ON CONVERTIBLE BONDS

This announcement is made by Burwill Holdings Limited (the "Company") pursuant to Rules 13.09(2)(a) and 13.19 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the Inside Information Provisions (as defined in the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

UPDATES ON CONVERTIBLE BONDS

Reference is made to (i) the announcement of the Company dated 21 August 2019 in relation to the financial position of the Company; and (ii) the announcements of the Company dated 25 September 2017 and 20 March 2018 in relation to the subscription agreements entered into by the Company and Haitong International Financial Products (Singapore) Pte. Ltd. in relation to the issue of convertible bonds in the aggregate principal amount of not more than US$20,000,000 (the "Subscription Agreement I"), and the Company and certain subscribers in relation to the issue of convertible bonds in the aggregate principal amount of not more than US$13,000,000 (the "Subscription Agreement II"), respectively (collectively, the "Subscription Agreements"). The maturity dates of the Subscription Agreement I and the Subscription Agreement II are on 27 September 2019 and 2 October 2019 respectively.

The board of directors of the Company announces that as at the date of this announcement, the Company is actively negotiating with the bondholders of the Subscription Agreements for a deferred payment plan as a final settlement.

The Company will issue further announcement(s) to provide updates on the above matters as and when required pursuant to the Inside Information Provisions (as defined in the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

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CONTINUED SUSPENSION OF TRADING IN THE SHARES

Trading in the shares of the Company has been suspended since 19 August 2019 and will continue to be suspended until further notice. Holders of the shares of the Company and potential investors are advised to exercise caution when dealing in the shares of the Company.

By order of the Board

Burwill Holdings Limited

SIT Hoi Tung

Director

Hong Kong, 25 September 2019

As at the date of this announcement, the Board of the Company comprises Mr. Chan Shing, Mr. Sit Hoi Tung, Mr. Sham Kai Man and Mr. Ng Man Fai, Matthew as executive directors; Mr. Cui Shu Ming as independent non-executive director; and Mr. Huang Shenglan as non-executive director.

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