WE Holdings acquires Europtronic Group?s component distribution subsidiary for a consideration of S$6.82 million

? Acquisition consideration based on Europtronic?s Net Adjusted Current Asset Value which includes fixed deposit of S$2.35million and cash of at least S$0.5 million as working capital and S$3.83 million1 in available banking facilities

? In line with the Group?s intention to achieve economies of scale in its component business and to broaden the Group?s revenue stream

Singapore and Hong Kong, 12 September 2013 ? WE Holdings Ltd (?WE Holdings? or the ?Company? and together with its subsidiaries, the ?Group?) is pleased to announce, in relation to its non-binding memorandum of understanding announcement on 9 July 2013, that today, the Company had entered into a conditional sale and purchase agreement (the ?Sale and Purchase Agreement?) with Europtronic Group Ltd (the ?Vendor?), a company listed on the Main Board of the Singapore Exchange Securities Trading Limited (?SGX-ST?), for the acquisition of all the issued and paid-up ordinary shares in the capital of Europtronic (Singapore) Pte Ltd

(?Europtronic?).

Europtronic, a wholly-owned subsidiary of the Vendor, is in the business of trading of electronic component and the provision of the handling services. Through the acquisition, the Company can leverage on Europtronic?s components business, which is in line with the Company?s intention to expand its components business to achieve economies of scale and to broaden the Group?s revenue stream.

The consideration for the acquisition (?Sale Price?) of S$6.82 million was based on the sum of the Net Adjusted Current Asset Value of Europtronic of S$4.82 million (as at 30 June 2013), and a premium of S$2.0 million. The Sale Price will be funded through the allotment and issuance of an aggregate of 130,152,672 new ordinary shares of the Company (?Consideration Shares?) at the issue price of S$0.0524 for each Consideration Share (?Issue Price?)2 to the Vendor.