SILKWAVE INC (00471) received two petitions for liquidation and will resume trading on August 21.

SILKWAVE INC (00471) announced that the company has recently received two winding-up petitions submitted to the High Court of the Hong Kong Special Administrative Region, with details as follows: 1. Petition Case No. 1: The company received a winding-up petition from RACHINI ALLEY LIMITED (Petitioner 1) submitted to the High Court on July 24, 2026, with case number HCCW 563/2026, requesting the High Court to wind up the company in accordance with the provisions of the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Cap. 32) of Hong Kong. Petition 1 pertains to the allegation that the company failed to respond to Petitioner 1's conversion notice issued on April 16, 2026, regarding the convertible bonds, as well as an alleged debt of USD 9.1 million. Petition 1 is scheduled for a hearing on October 2, 2026. 2. Petition Case No. 2: The company received a winding-up petition from AMBER FINANCIAL SERVICES GROUP LIMITED (Petitioner 2) submitted to the High Court on August 18, 2026, with petition number HCCW 653/2026, requesting the High Court to wind up the company in accordance with the provisions of the Companies Winding Up Ordinance. Petition 2 pertains to the allegation that the company has not settled an unsatisfied judgment debt of approximately HKD 476,000 related to a civil lawsuit (case number: DCCJ 5704/2025). Petition 2 is scheduled for a hearing on November 4, 2026. The company is currently seeking legal advice from its legal consultants regarding these petitions to assess the matters and evaluate the legal, financial, and operational impact of these petitions on the company. In addition, the company has applied to the Stock Exchange for the resumption of share trading starting from 9:00 AM on August 21, 2026.