Lamtex : APPOINTMENT OF NON-EXECUTIVE DIRECTOR, RESIGNATION OF INDEPENDENT NON-EXECUTIVE DIRECTOR AND NON-COMPLIANCE WITH THE LISTING RULES

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)

(Provisional Liquidators Appointed)

(For Restructuring Purposes Only)

(Stock Code: 1041)

APPOINTMENT OF NON-EXECUTIVE DIRECTOR, RESIGNATION OF INDEPENDENT NON-EXECUTIVE DIRECTOR

AND

NON-COMPLIANCE WITH THE LISTING RULES

APPOINTMENT OF NON-EXECUTIVE DIRECTOR

The board (the "Board") of directors of Lamtex Holdings Limited (the "Company") hereby announces that Mr. Chung Lap Keung ("Mr. Chung") has been appointed as the non-executive director of the Company with effect from 4 March 2021.

Mr. Chung, aged 61, has extensive commercial experience. He has served as the chairman of Hong Kong Liye Construction Engineering Limited* (香港立業建築工程有限公司) from September 1983 to August 2001, the chairman of Chak Ho Development Limited* (澤昊發展有限公司) from May 1991 to September 1993, and the chairman of Shenzhen Zehao International Trade Co., Ltd* (深圳 澤昊國際貿易有限公司) from February 1993 to July 2005. Mr. Chung has been serving as the Chairman of the Board of Hongkong Chak Ho Group Limited* (香港澤昊集團有限公司) since September 1993. He has also been the chairman of Shenzhen Zelv Enrironmental Protection Engineering Co., Ltd* (深圳澤綠環保工程有限公司) from November 1999 to November 2005 and the president of Great Brilliant International Limited* (灝璟國際有限公司) since June 2011.

Mr. Chung was elected as a committee member of Huizhou CPPCC in 1996 and a member of the Standing Committee of Huizhou CPPCC in 1997. He was a committee member (the Hong KongSpecial Administrative Region) of the 7th, 8th and 9th Guangdong CPPCC. He was also the executive vice-president of the Shenzhen Overseas Chinese International Association* (深圳市僑商 國際聯合會), the executive director of the Shenzhen Foundation for Justice and Courage* (深圳市 見義勇為基金會), the executive vice president of Shenzhen Overseas Liaison Center* (深圳海外聯

絡中心), and the executive director of the Hong Kong Chinese Importers'& Exporters' Association* (香港中華出入口商會).

Mr. Chung is currently the permanent honorary president of the Federation of Hong Kong Guangdong Community Organizations* (香港廣東社團總會), the committee member of the

Chinese General Chamber of Commerce, Hong Kong* (香港中華總商會) and the vice chairman of the Guangdong-Hong Kong-Macao Greater Bay Area Committee (粵港澳大灣區委員會 ), the executive vice chairman of the Hong Kong Guangdong Chamber of Foreign Investors* (香港廣東外 商公會), the executive director of the Standing Committee of Guangdong Federation of Industry &Commerce* (廣東省工商業聯合會(總商會)), the executive director of the StandingCommittee of Returned Oversea Chinese Association of Guangdong* (廣東省歸國華僑聯合會), the vice president of the Guangdong Provincial Enterprise Confederation and the Association of Entrepreneurs* (廣東 省企業聯合會 ( 企業家協會 )), the vice president of the Guangdong Overseas Friendship Association* (廣東海外聯誼會) and the executive vice chairman of the Guangdong Chamber of Foreign Investors* (廣東外商公會).

Save as disclosed above, Mr. Chung (i) does not have any relationship with any directors, senior management, substantial shareholders or controlling shareholders of the Company; (ii) does not have any interests in the shares in the Company within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong); (iii) does not hold other positions with the Company and its subsidiaries; and (iv) has not held any directorship in any public listed companies in the last three years preceding the date of this announcement or any other major appointments or professional qualifications.

Mr. Chung has entered into a service contract with the Company on 4 March 2021 with no specific term for his appointment, which can be terminated (i) by the Company by giving not less than 1 month's prior notice in writing to Mr. Chung; or (ii) by Mr. Chung by giving not less than 1 month's prior notice in writing to the Company. As a director, he is subject to retirement by rotation and his office can be vacated in accordance with the bye-laws of the Company.

In particular, Mr. Chung, as appointed by the Board, shall hold office until the next following general meeting of the Company and will be entitled to offer himself for re-election at such meeting. Mr. Chung is entitled to a director's fee of HK$25,000 per month which is determined by arm's length negotiation between the Company and Mr. Chung, with reference to his duties and responsibilities, his qualifications, experiences, the prevailing market conditions and the Company's remuneration policy.

Save as disclosed above, there is no information relating to Mr. Chung that is required to be disclosed pursuant to paragraphs (h) to (v) of Rule 13.51(2) of the Listing Rules nor is there any matter about him that needs to be brought to the attention of the shareholders of the Company.

RESIGNATION OF INDEPENDENT NON-EXECUTIVE DIRECTOR

The Board of Directors would like to announce that, due to his other business commitments, Dr. Wen Yanfeng ("Dr. Wen") has resigned as an independent non-executive Director, a member of the audit committee, the remuneration committee and the nomination committee of the Company with effect from 4 March 2021.

Dr. Wen has confirmed that he does not have any disagreement with the Board, and there is no other matter relating to his resignation that needs to be brought to the attention of the shareholders of the Company or the Stock Exchange.

The Board would like to take this opportunity to express its appreciation to Dr. Wen for his valuable contributions and services to the Company during his tenure of office.

NON-COMPLIANCE WITH THE LISTING RULES

Reference is made to the announcements of the Company dated 21 October 2020, 14 December 2020, 21 December 2020 and 31 December 2020 in relation to the non-compliance with Rules 3.10 and 3.21 of the Listing Rules with regard to the composition of the Board.

Following the appointment of Mr. Chung and the resignation of Dr. Wen, the composition of the Board fell below the requirements under Rules 3.10, 3.21 and 3.25 of the Listing Rules.

The Company has been endeavouring to identify a suitable candidate to fill the vacancies as soon as practicable, with the relevant appointment to be made within three months pursuant to Rules 3.11, 3.23 and 3.27 of the Listing Rules to meet the requirements under the Listing Rules. The Company will make further announcement(s) as and when appropriate.

CONTINUED SUSPENSION OF TRADING

At the request of the Company, trading in the shares of the Company on the Stock Exchange was suspended from 9:00 a.m. on 3 August 2020 and will remain suspended until further notice.

The Company will keep the public informed by making further announcement as and when appropriate.

By the order of the Board

Lamtex Holdings Limited (Provisional Liquidators Appointed) (For Restructuring Purposes Only)

Yiu Sin Yi

Company Secretary

Hong Kong, 4 March 2021

As at the date of this announcement, the Board comprises two Executive Directors, namely Mr. Chung Xian and M. Lin Tong; three Non-Executive Directors, namely Mr. Huang Bin, Ms. Zang Yanxia and Mr. Chung Lap Keung; and two Independent Non-Executive Directors, namely Mr. Li Changhui and Mr. Fung Kim Shun.

*For identification purpose only