JES INTERNATIONAL HOLDINGS LIMITED

(Incorporated in the Republic of Singapore on 4 April 2006) (Company Registration Number 200604831K)

SUPPLEMENTAL AGREEMENT TO THE SALE AND PURCHASE AGREEMENT ENTERED INTO BETWEEN JES INTERNATIONAL HOLDINGS LIMITED AND HONG KONG VICTO INTERNATIONAL LIMITED IN RELATION TO THE PROPOSED DISPOSAL OF THE SHIPBUILDING BUSINESS

Unless otherwise defined herein, all capitalised terms used in this announcement shall have the same meanings as defined in the Company's announcement dated 12 February 2016 in respect of the Proposed Disposal.

The Board of Directors (the "Board") of JES International Holdings Limited (the "Company") wishes to announce that the Company has today entered into a Supplemental Agreement (the "Supplemental Agreement") in relation to the sale and purchase agreement dated 12 February 2016 (the "SPA") entered into between the Company and Hong Kong Victo International Limited (the "Purchaser") (each a "Party" and collectively, the "Parties") in relation to the sale of the entire registered capitals of Jiangsu Eastern Heavy Industries Co., Ltd and Jiangsu New Eastern Marine Engineering Equipment Co., Ltd and 49% of the registered capital of Jiangsu Nereus Shipyard Co., Ltd held by the Vendor to Hong Kong Victo International Limited.

The Supplemental Agreement seeks to amend and supplement the terms of the SPA such that:

  1. the Long-Stop Date as defined in the SPA shall be 31 December 2017; and

  2. the Parties irrevocably and respectively waive any and all rights accrued to each Party under the SPA as at the date of the Supplemental Agreement.

Save as announced above, there are no other changes to the terms and conditions of the SPA.

None of the directors or the controlling shareholders of the Company have any interest, direct or indirect, in Supplemental Agreement, other than through their respective directorships and/or shareholdings in the Company.

The Supplemental Agreement is available for inspection during normal business hours at the registered office of the Company at 160 Paya Lebar Road #07-08 Orion @ Paya Lebar Singapore 409022 for three (3) months from the date of this announcement.

BY ORDER OF THE BOARD JES INTERNATIONAL HOLDINGS LIMITED

JIN YU

Chief Executive Officer 13 May 2017

JES International Holdings Ltd. published this content on 14 May 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 14 May 2017 04:24:18 UTC.

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