Establishment of a Wholly-owned Subsidiary Company, Silvirture Limited

The Board of Directors of Silverlake Axis Ltd (“SAL” or the “Group”) wishes to announce that the Group has established a wholly-owned subsidiary, Silvirture Limited (“SVL”).

SVL was incorporated on 26 June 2019 in Hong Kong. The principal activity of SVL is an investment holding company for the Group’s business expansion.

The establishment of SVL was fully funded by the Group’s internal resources and is not expected to have any material impact on the consolidated net tangible assets and earnings per share of the Group for the financial year ended 30 June 2019 and current financial year ending 30 June 2020.

None of the Directors or Substantial Shareholders of SAL has any interest, directly or indirectly, in the above transaction, save for their interest arising by way of their directorships in SAL.

By Order of the Board

Andrew Tan Teik Wei
Group Managing Director

3 July 2019

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