The Board of Directors of WSC wishes to announce that WSN Investments Limited (“WSN”), an indirect wholly-owned subsidiary of the Company, has been deregistered on 11 February 2021 pursuant to Section 751 of the Companies Ordinance in Hong Kong. The notice of dissolution was obtained by WSC from the Companies Registry of Hong Kong on 22 February 2021.

WSN was incorporated in Hong Kong on 28 September 2005 with an issued and paid-up share capital of HKD10.00 comprising 10 ordinary shares of HKD1.00 each and is 100% owned by Wasco E&P Services Limited, an indirect wholly-owned subsidiary of the Company.

The deregistration of WSN will not have any effect on the share capital and shareholdings of the substantial shareholders of the Company and will not have any financial impact on the gearing, earnings and net assets of WSC Group for the financial year ending 31 December 2021.

None of the Directors, major shareholders, chief executive of the Company and/or persons connected to them have any interest, direct or indirect, in the deregistration of WSN.

This announcement is dated 23 February 2021.