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Advised Synergy Group Holdings International Limited in connection with a corporate rescue plan

Advised Synergy Group Holdings International Limited (stock code: 1539) (“Synergy Group”) on the corporate rescue plan comprising, amongst other things, the issue of a total of 1,700,940,000 new shares to connected persons and creditors, representing approximately 256.63% of the issued share capital of the Synergy Group before completion. The Company considers that the corporate rescue plan, if materialized, would resolve the bankruptcy risk of the Company.

The new controlling shareholder successfully applied for a whitewash waiver from the Securities and Futures Commission of Hong Kong from making a general offer. The Company also successfully applied for a waiver from the strict compliance of Rule 7.27B of the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited which generally prohibits issue of new shares resulting in theoretical dilution effect of more than 25%.

Synergy Group is a company listed on the Main Board of The Stock Exchange of Hong Kong Limited. The Group is principally engaged in the provision of leasing services of energy saving systems, consultancy service and trading of energy saving products.

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