Trinity : Inside Information - Application for Appointment of Provisional Liquidators for Restructuring Purposes

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TRINITY LIMITED 利邦控股有限公司*

(Incorporated in Bermuda with limited liability)

(Stock Code: 891)

INSIDE INFORMATION

APPLICATION FOR APPOINTMENT OF

PROVISIONAL LIQUIDATORS FOR RESTRUCTURING PURPOSES

This announcement is made by Trinity Limited (the "Company", together with its subsidiaries referred to collectively as the "Group") in accordance with Rule 13.09 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).

APPLICATION FOR THE APPOINTMENT OF JOINT PROVISIONAL LIQUIDATORS

To facilitate the Company's financial restructuring, on 8 March 2021 (Bermuda time), the Company filed with the Supreme Court of Bermuda (the "Bermuda Court") an application for the appointment (the "JPL Application") of Mr Ho Man Kit, Horace and Mr Mok Kwan Leong of Manivest Asia Limited and Mr Mathew Conner Clingerman of Krys & Associates (Bermuda) Limited as joint and several provisional liquidators (together the "JPLs") on a light touch basis for restructuring purposes only.

Under the JPL Application, the Company seeks an order from the Bermuda Court so that the board of directors of the Company (the "Board") shall under the monitoring of the JPLs, continue to manage the Company's affairs in all respects and exercise the powers conferred upon it by the Company's Memorandum of Association and Bye-laws, provided always that, the JPLs shall have the power to seek such directions from the Bermuda Court as the JPLs are advised are appropriate.

The Board believes that the appointment of JPLs is essential and desirable for the Company's financial restructuring in order to maximise the prospects of the financial restructuring being successful and to provide a moratorium to avoid a disorderly insolvency liquidation of the Group by any of the creditors who commenced or have threatened to commence liquidation proceedings. Accordingly, the Board believes it is in the interests of the Company, its shareholders and creditors that the JPLs are appointed in respect of the Company pursuant to the JPL Application.

Further announcements will be made as soon as practicable to update the shareholders of the Company and potential investors on the development of the relevant court proceedings.

Shareholders and potential investors of the Company should exercise caution when they deal or contemplate dealing in the shares of the Company.

By Order of the Board

QIU Yafu Chairman

Hong Kong, 9 March 2021

As at the date of this announcement, the Board comprises three executive directors, namely Ms SUN Weiying (Chief Executive Officer), Ms QIU Chenran and Ms SU Xiao; one non-executive director, namely Mr QIU Yafu (Chairman); and three independent non-executive directors, namely Mr YANG Dajun, Mr ZHAO Zongren and Mr KONG Xiangyong.

* For identification purposes only