Shanghai Asia Holdings notified of SGX-ST delistment

Securities trading suspended by June 4.

The Board of Directors (“Board”) of Shanghai Asia Holdings Limited (the “Company”) announced that the Company has on 3 May 2013 received from the SGX-ST the notification of delisting from the Official List of the SGX-ST (“Delisting Notification”).

In the Delisting Notification, the SGX-ST noted that as at 25 April 2013 (ie 12 months from the time the Company becomes a cash Company), the Company has not signed a definitive agreement for the acquisition of a new business that is able to meet the requirements for a new listing and that the Company had obtained approval from its shareholders (“Shareholders”) for its proposed capital reduction (“Capital Reduction”) at the extraordinary general meeting on 30 April 2013.

Accordingly, it is stated in the Delisting Notification that pursuant to Rule 1018(2) of the SGX- ST Listing Manual, the Company will be delisted from the Official List of the SGX-ST after completion of the Capital Reduction. The Capital Reduction is expected to be completed around 28 June 2013 being the expected payment date of the cash distribution of the Capital Reduction. The Company will proceed with a members’ voluntary liquidation following completion of the Capital Reduction.

It is also stated in the Delisting Notification that trading in the Company’s securities will continue until 5.00 p.m., Monday, 3 June 2013 and trading in the Company’s securities will be suspended with effect from 9.00 a.m., Tuesday, 4 June 2013.

The Company will update Shareholders with developments as and when the Board deems it appropriate.