WBL CORPORATION LIMITED (Company Registration No. 191200028Z) (Incorporated in Singapore) PROPOSED VOLUNTARY DELISTING OF WBL CORPORATION LIMITED - WAIVER FROM COMPLIANCE WITH RULE 705(1) OF THE LISTING MANUAL 1. INTRODUCTION

1.1 The board of directors of WBL Corporation Limited (the "Company") refers to the joint announcement (the "Joint Announcement") on 19 November 2013 made by the Company and UE Centennial Venture Pte. Ltd. (the "Offeror") in relation to the proposed voluntary delisting (the "Delisting") of the Company from the Official List of the Singapore Exchange Securities Trading Limited (the "SGX-ST") pursuant to Rules 1307 and 1309 of the listing manual of the SGX-ST (the "Listing Manual").
1.2 As stated in the Joint Announcement, in connection with the Delisting, the Offeror will make exit offers to acquire:
(a) all the issued ordinary stock units in the capital of the Company (the "Stock Units") other than those already owned, controlled or agreed to be acquired by the Offeror; and
(b) all the outstanding 2.5% convertible bonds due 10 June 2014 issued by the Company on 10 June 2009 (the "Convertible Bonds"), other than those already owned, controlled or agreed to be acquired by the Offeror,
(collectively, the "Exit Offers").
1.3 The board of directors of the Company also refers to the joint announcement on 6 January
2014 made by the Company and the Offeror in relation to the SGX-ST informing the Company on 3 January 2014 that it has no objection to the Company's application for the Delisting and the waiver from Rule 1307 of the Listing Manual to convene a general meeting to obtain the approval of the holders of the Stock Units (the "Stockholders") for the Delisting (collectively, the "SGX Approval").

2. WAIVER FROM COMPLIANCE WITH RULE 705(1) OF THE LISTING MANUAL

2.1 Pursuant to Rule 705(1) of the Listing Manual, the Company is required to announce its financial statements for the financial year ended 31 December 2013 (the "FY2013 Results Announcement") immediately after the figures are available, but in any event not later than
60 days after the financial period, being 1 March 2014 ("Deadline").
2.2 In connection with the Exit Offers, the Delisting and the SGX Approval, the Company made an application to the SGX-ST on 6 January 2014 to seek a waiver from compliance with Rule
705(1) of the Listing Manual (the "Waiver") for the following reasons:
(a) release of the FY2013 Results Announcement would not serve any meaningful purpose but would incur unnecessary compliance costs for the Company as the Exit Offers and the Delisting is anticipated to be completed before the Deadline and it is certain that the Company will be delisted from the Official List of the SGX-ST after the close of the Exit Offers, regardless of the level of acceptances of the Exit Offers;
(b) minority Stockholders and holders of the Convertible Bonds would not be prejudiced in any way should the FY2013 Results Announcement not be released as trading in the Stock Units and Convertible Bonds of the Company have already been suspended, and will remain suspended until completion of the Exit Offers and the Delisting; and
(c) to provide certainty to the Company to not have to prepare for the release of the
FY2013 Results Announcement.
2.3 The Waiver was granted by the SGX-ST on 13 January 2014 subject to the following conditions:
(a) the Company making an immediate announcement that the Waiver has been granted, the reasons for the Company seeking the Waiver, and the conditions attached to the Waiver;
(b) submission of a written confirmation from the Company that it is not aware of any information that will have a material bearing on investors' decision which has yet to be announced by the Company; and
(c) submission of a written confirmation from the Company that the Waiver does not contravene any laws and regulations governing the Company and the articles of association of the Company.
2.4 The SGX-ST reserved the right to amend/vary its grant of the Waiver and such grant of
Waiver is subject to changes in the SGX-ST's policies.
2.5 The Company will submit in due course the written confirmations referred to in paragraphs
2.3(b) and (c) above.

3. RESPONSIBILITY STATEMENT

The directors of the Company (including any who may have delegated detailed supervision of this announcement (this "Announcement")) have taken all reasonable care to ensure that the facts stated and all opinions expressed in this Announcement (other than those relating to the Offeror) are fair and accurate and that, where appropriate, no material facts have been omitted from this Announcement, the omission of which would make any statement in this Announcement misleading.
Where any information in this Announcement has been extracted or reproduced from published or otherwise publicly available sources or obtained from the Offeror, the sole responsibility of the directors of the Company has been to ensure, through reasonable enquiries, that such information is accurately and correctly extracted from such sources or, as the case may be, accurately reflected or reproduced in this Announcement. The directors of the Company jointly and severally accept responsibility accordingly.
By Order of the Board
Tan Swee Hong
Company Secretary
WBL Corporation Limited
14 January 2014

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