Tungtex : MAJOR TRANSACTION IN RELATION TO THE DISPOSAL DELAY IN DESPATCH OF CIRCULAR

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TUNGTEX (HOLDINGS) COMPANY LIMITED

同 得 仕（ 集 團 ）有 限 公 司

(Incorporated in Hong Kong with limited liability)

(Stock Code: 00518)

MAJOR TRANSACTION IN RELATION TO THE DISPOSAL

DELAY IN DESPATCH OF CIRCULAR

Reference is made to the announcement of Tungtex (Holdings) Company Limited (the "Company") dated 1 December 2019 (the "Announcement") in relation to the Disposal. Unless otherwise defined herein, capitalised terms used herein shall have the same meanings as those defined in the Announcement.

As stated in the Announcement, a circular (the "Circular") containing, among other matters, (1) details of the Disposal Agreement and the Disposal; (2) valuation report of the Target Assets;

1. other information as required to be disclosed under the Listing Rules; and (4) the notice of the EGM and a form of proxy is expected to be despatched to the Shareholders on or before 23 December 2019. As additional time is required to finalise certain information to be included in the Circular, it is expected that the despatch date of the Circular will be postponed to a date falling on or before 17 January 2020.

For and on behalf of the Board

Tungtex (Holdings) Company Limited

Martin Tung Hau Man

Chairman

Hong Kong, 23 December 2019

As at the date of this announcement, the executive directors of the Company are Mr. Martin Tung Hau Man, Mr. Raymond Tung Wai Man and Mr. Billy Tung Chung Man; and the independent non-executive directors are Mr. Tony Chang Chung Kay, Mr. Robert Yau Ming Kim, Mr. Leslie Chang Shuk Chien and Mr. Kenneth Yuen Ki Lok.