Kingboard Laminates : JOINT ANNOUNCEMENT - IN RELATION TO KINGBOARD COPPER FOIL HOLDINGS LIMITED

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.

KINGBOARD CHEMICAL HOLDINGS LIMITED KINGBOARD LAMINATES HOLDINGS LIMITED 建滔化工集團有限公司 建滔積層板控股有限公司

(Incorporated in the Cayman Islands

with limited liability)

(Incorporated in the Cayman Islands

with limited liability)

(Stock Code: 148) (Stock Code: 1888) JOINT ANNOUNCEMENT IN RELATION TO KINGBOARD COPPER FOIL HOLDINGS LIMITED

Reference is made to the joint announcements of Kingboard Chemical Holdings Limited ("Kingboard Chemical") and Kingboard Laminates Holdings Limited ("Kingboard Laminates") dated 3 March 2017 and 6 March 2017 in relation to the voluntary unconditional cash offer (the "Offer") by Excel First Investments Limited 卓先投資有限公司 (the "Offeror") for all the issued and paid-up ordinary shares in the capital of Kingboard Copper Foil Holdings Limited ("KBCF"), other than those which are owned, controlled or agreed to be acquired by the Offeror or by parties acting in concert or deemed to be acting in concert with the Offeror in relation to the Offer.

This announcement is made by Kingboard Chemical and Kingboard Laminates pursuant to Rule 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and is being released for information purpose.

KBCF, a company incorporated in Bermuda with limited liability and the shares of which are listed on the Singapore Exchange Securities Trading Limited, is an indirect 65.95%-owned subsidiary of Kingboard Laminates. In turn, Kingboard Laminates is a 72.59%-owned subsidiary of Kingboard Chemical. Both Kingboard Chemical and Kingboard Laminates are companies listed on the Main Board of The Stock Exchange of Hong Kong Limited.

The following is a reproduction of the announcement published on the website of www.sgx.com of Singapore Exchange Securities Trading Limited under KBCF on 20 March 2017 in relation to the Offer.

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KINGBOARD COPPER FOIL HOLDINGS LIMITED

(Incorporated in Bermuda) (Company Registration No. 26998) (the "Company")

1. VOLUNTARY UNCONDITIONAL CASH OFFER BY RELIGARE CAPITAL MARKETS CORPORATE FINANCE PTE. LIMITED, FOR AND ON BEHALF OF EXCEL FIRST INVESTMENTS LIMITED FOR ALL THE ISSUED AND PAID-UP ORDINARY SHARES IN THE CAPITAL OF KINGBOARD COPPER FOIL HOLDINGS LIMITED ("THE COMPANY")

2. UPDATE ON THE BERMUDA LITIGATION

3. INTRODUCTION

   The board of directors (the "Board") of the Company refers to the announcement made on 3 March 2017 (the "Offer Announcement") by Religare Capital Markets Corporate Finance Pte. Limited ("Religare"), for and on behalf of Excel First Investments Limited 卓先投資有限公司 (the "Offeror"), on the Offeror's intention to make a voluntary unconditional cash offer ("Offer") for all the issued and paid- up ordinary shares of a par value of US$ 0.10 each in the capital of the

   Company, other than those which are owned, controlled or agreed to be acquired by the Offeror or by parties acting in concert or deemed to be acting in concert with the Offeror in relation to the Offer ("Concert Parties"), with a view to delisting the Company from the Main Board of Singapore Exchange Securities Trading Limited.

4. DESPATCH OF THE OFFER DOCUMENT

   The Board wishes to inform shareholders of the Company ("Shareholders") that Religare has today announced, for and on behalf of the Offeror, that the formal offer document dated 20 March 2017 (the "Offer Document") containing the terms and conditions of the Offer and enclosing the forms of acceptance and approval of the Offer has been despatched to Shareholders on 20 March 2017.

   The Offer is subject to the terms and conditions set out in the Offer Document, a copy of which is available on the website of the Singapore Exchange Securities Trading Limited at www.sgx.com.

5. OFFEREE CIRCULAR

   A circular (the "Offeree Circular") containing, amongst others, the advice of the IFA (as defined below) and the recommendation of the directors of the Company (the "Directors") who are regarded as independent for the purposes of the Offer under the Singapore Code on Take-overs and Mergers (the "Independent Directors") on the Offer will be despatched by the Company to Shareholders within 14 days from 20 March 2017. The Company is in the process of appointing an independent financial adviser (the "IFA") to advise the Independent Directors. Appropriate announcement will be made in this regard by the Company in due course.

6. CAUTION IN TRADING

   Shareholders are advised to exercise caution when dealing in their Shares and to refrain from taking any action in relation to their Shares which may be prejudicial to their interests, until they or their professional advisers have considered the information and the recommendation of the Independent Directors, as well as the advice of the IFA, which will be set out in the Offeree Circular to be issued in due course. Shareholders who are in doubt as to the action they should take should consult their stockbroker, bank manager, solicitor or other professional advisers.

7. UPDATE ON THE BERMUDA LITIGATION

   The Board refers to the Company's announcements dated 10 August 2011, 12 November 2015, 16 November 2015 and 23 December 2015 in respect of the petition made by Annuity & Re Life Limited to the Supreme Court of Bermuda, which names the Company and number of its shareholders. In the announcement dated 23 December 2015, the Company stated that it was informed by the majority shareholders that they filed a Notice of Appeal dated 22 December 2015 with the Court of Appeal for Bermuda in respect of the judgment of the Supreme Court of Bermuda dated 10 November 2015. The Board wishes to update the Shareholders that the appeal hearing has taken place on 6 and 7 March 2017 and the judgment is expected to be issued on or after 24 March 2017. The Company will make further announcement as and when necessary to keep Shareholders informed of material developments in this matter.

8. RESPONSIBILITY STATEMENT

9. The Directors (including any who may have delegated detailed supervision of this announcement) have taken all reasonable care to ensure that the facts stated and all opinions expressed in this announcement are fair and accurate and that no material facts have been omitted from this announcement which would make any statement in this announcement misleading, and they jointly and severally accept responsibility accordingly.

   Where any information has been extracted or reproduced from published or otherwise publicly available sources (including without limitation, the Offer Announcement), the sole responsibility of the Directors has been to ensure, through reasonable enquiries, that such information is accurately and correctly extracted from such sources or, as the case may be, reflected or reproduced in this announcement.

   BY ORDER OF THE BOARD

   Ong Tiong Wee Independent Director

   20 March 2017

   BY ORDER OF THE BOARD

   Kingboard Chemical Holdings Limited Lo Ka Leong

   Company Secretary

   BY ORDER OF THE BOARD

   Kingboard Laminates Holdings Limited Tsoi Kin Lung

   Company Secretary

   Hong Kong, 20 March 2017

   As at the date of this announcement, the board of directors of Kingboard Chemical consists of Messrs. Cheung Kwok Wing, Chang Wing Yiu, Cheung Kwong Kwan, Ho Yin Sang, Cheung Wai Lin, Stephanie, Cheung Ka Shing and Chen Maosheng, being the executive directors, Messrs. Cheng Wai Chee, Christopher, Cheung Ming Man, Chong Kin Ki and Leung Tai Chiu, being the independent non-executive directors.

   As at the date of this announcement, the board of directors of Kingboard Laminates consists of Messrs. Cheung Kwok Wa, Cheung Kwok Keung, Cheung Kwok Ping, Lam Ka Po, Cheung Ka Ho, Liu Min and Zhou Pei Feng, being the executive directors, Mr. Lo Ka Leong, being the non-executive director, and Messrs. Leung Tai Chiu, Ip Shu Kwan, Stephen, Zhang Lu Fu and Lau Ping Cheung, Kaizer, being the independent non-executive directors.

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