WILLAS-ARRAY ELECTRONICS (HOLDINGS) LIMITED
50
REPORT OF THE DIRECTORS
18. SUBSTANTIAL SHAREHOLDERS’ AND OTHER PERSONS’ INTERESTS OR
SHORT POSITIONS IN THE SHARES OR UNDERLYING SHARES OF THE
COMPANY
– continued
Notes:
(1)
Ms. Cheng, the wife of Mr. Leung, the Chairman and an Executive Director, is deemed under the SFO to be
interested in the Shares held beneficially and deemed to be held by Mr. Leung. The 18,099,830 Shares are
held by Max Power, with HSBC (Singapore) Nominees Pte Limited as its nominee. The entire issued share
capital of Max Power is held by HSBC Trustee in its capacity as trustee of the discretionary trust. By virtue of
the SFO, HSBC Trustee is deemed to be interested in all of the Shares held by Max Power. Mr. Leung and
his family members are the ultimate beneficiaries of the discretionary trust. The trustee is required to obtain
the consent of Mr. Leung in any disposal and acquisition of Shares by Max Power except under certain
exceptional conditions as stipulated in the trust deed.
(2)
The 18,099,830 Shares are held by Max Power, with HSBC (Singapore) Nominees Pte Limited as its
nominee. The entire issued share capital of Max Power is held by HSBC Trustee in its capacity as trustee of
the discretionary trust. By virtue of the SFO, HSBC Trustee is deemed to be interested in all of the Shares
held by Max Power. Mr. Leung and his family members are the ultimate beneficiaries of the discretionary
trust. The trustee is required to obtain the consent of Mr. Leung in any disposal and acquisition of Shares by
Max Power except under certain exceptional conditions as stipulated in the trust deed.
(3)
Global Success, which is wholly owned by Mr. Kwok, being the Deputy Chairman and an Executive Director,
is the beneficial owner of 7,895,554 Shares. By virtue of the SFO, Mr. Kwok is deemed to be interested in all
of the Shares held by Global Success.
(4)
Mr. Yeo Seng Chong owns Shares directly in his own name and his wife, Ms. Lim Mee Hwa owns Shares
directly in her own name. Both own equally YCMPL, a fund manager and therefore control YCMPL. YCMPL
in turns has its own direct shareholding in the Company as well as its deemed interests through its clients’
direct shareholdings in the Company.
(5)
YCMPL owns Shares directly in its own name and also has deemed interests through its clients’ direct
shareholdings in the Company. The clients of YCMPL are Yeoman 3-Rights Value Asia Fund and Yeoman
Client 1.
(6)
Yeoman 3-Rights Value Asia Fund owns Shares directly in its own name.
(7)
The number of Shares held by the respective Shareholders represents the number of Shares after the
consolidation of every five (5) issued and unissued ordinary shares then into one (1) consolidated ordinary
share, which became effective on August 17, 2015.
Save as disclosed above, the Directors are not aware of any persons (other than a Director or the
chief executive of the Company) or corporations who/which had or were deemed or taken to have
interests or short positions in the Shares or underlying Shares, which would fall to be disclosed to
the Company under the provisions of Divisions 2 and 3 of Part XV of the SFO or were required to
be entered in the register kept by the Company pursuant to Section 336 of the SFO.
