Zen Global Ltd Clarification (4732G)

TIDMWTS

RNS Number : 4732G

Zen Global Ltd

23 July 2019

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN

PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD

CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF

THAT JURISDICTION

FOR IMMEDIATE RELEASE

23(rd) July 2019

ZEN GLOBAL LTD (the "Company")

No intention to bid statement regarding World Trade Systems PLC (WTS)

Further to the announcement made by the Company on 1 July 2019, regarding a

possible offer for World Trade Systems PLC by the Company, the Company announces that it is not intending to make an offer for WTS.

The Company had been in discussions only with Suzhou Weibao Co Ltd and has not been able to get an agreement on the sale of shares. The Company has also not been able to arrive at any understanding with the other shareholders of WTS.

This is a statement to which Rule 2.8 of the Takeover Code (the "Code") applies.

Under Note 2 on Rule 2.8 of the Code, the Company reserves the right to set the restrictions in Rule 2.8 aside in the following circumstances:

a. with the agreement of the board of WTS;

b. if a third party announces a firm intention to make an offer for WTS;

c. if WTS announces a "whitewash" proposal (see Note 1 of the Notes on Dispensations from Rule 9) or a reverse takeover (as defined in the Code); and

d. if there has been a material change of circumstances (as determined by the Takeover Panel).

Enquiries

AKM Ismail, ZEN Global Ltd

[phone]

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July 23, 2019 11:38 ET (15:38 GMT)