GLOBAL MASTERMIND 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.
和 滙 集 團 有 限 公 司
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 8063)This announcement is made by the Company pursuant to Rule 17.10 of the GEM Listing Rules and Inside Information Provisions under Part XIVA of the SFO.
The Board wishes to inform the shareholders of the Company and potential investors that the Group is expected to record a substantial loss for the nine months ended 30 September 2015 as compared to the loss recorded in the nine months ended 2014.
This announcement is made by Well Way Group Limited (the 'Company' and together with its subsidiaries, the 'Group') pursuant to Rule 17.10 of the Rules Governing the Listing of Securities on the Growth Enterprise Market ('GEM') of The Stock Exchange of Hong Kong Limited (the 'GEM Listing Rules') and Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong) ('SFO').
The board (the 'Board') of directors of the Company (the 'Directors') wishes to inform the shareholders of the Company (the 'Shareholders') and potential investors that, based on the draft unaudited consolidated management accounts of the Group for the nine months ended 30 September 2015 and the information currently available, it is expected that the Group will record a substantial loss of not less than HK$101.0 million for the nine months ended 30 September 2015 as compared to a loss of HK$9,138,000 for the corresponding period in 2014. The expected substantial loss is mainly attributable to an estimated loss of HK$90.0 million arising on impairment loss on available-for-sale investments due to a significant decline in such investments' fair value as at 30 September 2015.
The Company is still in the process of finalising the Group's results for the nine months ended 30 September 2015. The information contained in this announcement is only based on the preliminary assessment by the Board based on the draft unaudited consolidated management accounts of the Group for the nine months ended 30 September 2015 and the information currently available, which have not been finalised as at the date hereof. The Group's unaudited results for the nine months ended 30 September 2015 will be published in November 2015.
By Order of the Board
Well Way Group Limited Mung Bun Man, AlanExecutive Director
Hong Kong, 30 October 2015
As at the date of this announcement, the Board comprises Mr. Mung Kin Keung, Mr. Mung Bun Man, Alan, Mr. Leung Wai Man and Mr. Tse Ke Li as executive Directors and Mr. Chan Wai Man, Mr. Chan Ho Bun, Steve and Mr. Fung Wai Ching as independent non-executive Directors.
This announcement, for which the Directors collectively and individually accept full responsibility, includes particulars given in compliance with the GEM Listing Rules for the purpose of giving information with regard to the Company. The Directors, having made all reasonable enquiries, confirm that to the best of their knowledge and belief the information contained in this announcement is accurate and complete in all material respects and not misleading or deceptive, and there are no other matters the omission of which would make any statement herein or this announcement misleading.
This announcement will remain on the GEM website at www.hkgem.com on the 'Latest Company Announcements' page for at least seven days from the date of its posting and on the Company's website at www.wellwaygp.com.
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