WESTMINSTER TRAVEL LIMITED (Company Registration No.

: 200814792H) (Incorporated in the Republic of Singapore on 28 July 2008)

COMPLETION OF THE PROPOSED DISPOSAL BY THE COMPANY OF ITS ENTIRE EXISTING BUSINESS (PROPOSED DISPOSAL)

A. 1.

COMPLETION OF THE PROPOSED DISPOSAL The Board of Directors (the Board) of Westminster Travel Limited (the Company) refers to the announcements dated 19 November 2013, 27 December 2013 and 16 January 2014 and the circular to the shareholders dated 24 December 2013 (Circular). All undefined capitalised terms used herein shall have the meanings ascribed to them in the Circular. The Board wishes to announce that pursuant to the fulfillment of all conditions precedent as set out in the CTM SPA and EPI SPA, the Company has on 29 January 2014, successfully completed the Proposed Disposal (Completion) and that (a) WAIL has ceased to be a subsidiary of the Company; and (b) the subsidiaries and associated companies of WAIL have respectively ceased to be subsidiaries and associated companies of the Company, upon Completion.

2.

B.

CASH BALANCE IN THE COMPANY Following Completion, the Companys cash position comprises HK$551,470,656.00 and S$48,869.17 (equivalent to approximately HK$298,101.90 based on the exchange rate of S$1: HK$6.1).

C. 1.

RULE 1017 OF THE CATALIST RULES AND ESCROW ACCOUNT Consequent to the Completion, the Company has ceased to have any operating business, subsidiaries and associated companies, and with effect from 29 January 2014, is a cash company as defined under Rule 1017 of the Catalist Rules. The Company had on 27 December 2013, announced that the SGX-ST has no objection to the continued trading of the Shares on Catalist upon the completion of the Proposed Disposal, on the basis that the Company, Directors and Controlling Shareholders have undertaken to satisfy all the conditions stated in Rule 1017(1) of the Catalist Rules and subject to the Sponsor monitoring the progress of the opening of the escrow account. The Company would like to update that it had opened an escrow account with The Hongkong and Shanghai Banking Corporation Limited (Escrow Agent) pursuant to which the escrow amount of HK$ 496,591,882, representing approximately 90% of its cash as set out above in paragraph B of this announcement (Escrow Amount) will be placed with the Escrow Agent. The Company will provide monthly valuation of its assets and utilisation of cash and quarterly updates of milestones in obtaining new business(es) to the market via SGXNET. The Company is currently considering various new business options available and will be actively pursuing the acquisition of new operating business(es) and assets with proven track 1

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record and/or good growth potential. The Company will update Shareholders on material developments as and when appropriate in relation to the acquisition of business(es) for a new listing.

D.

CHANGE OF NAME The Company will update Shareholders on the effective date of the change of name from Westminster Travel Limited to E2-Capital Holdings Limited upon confirmation from the Accounting and Corporate Regulatory Authority and the new trading counter name of the Company on the Catalist upon confirmation from the SGX-ST.

E.

RESIGNATION OF EXECUTIVE DIRECTORS AND CHANGES TO THE COMPOSITIONS OF THE BOARD AND THE BOARD COMMITTEES The Board also wishes to announce the following changes to the compositions of the Board and the Board committees of the Company with effect from the Completion: (a) Resignation of the following Executive Directors from the Board: (i) (ii) (iii) (iv) (b) Mr Lo Fai Wah, Larry; Mr Chu Tak Shun, Henry; Ms Huo Ling; and Mr Yu Chung Hang, Lucian;

1.

Mr Lee Gee Aik will cease to be Lead Independent Director and be re-designated as Executive Vice Chairman. He will concurrently cease to be (i) the Chairman of the Audit Committee; and (ii) a member of the Nominating Committee and the Remuneration Committee; Dr Lo Wing Yan, William will be appointed as Lead Independent Director in place of Mr Lee Gee Aik. He will concurrently cease to be the Chairman of the Remuneration Committee and be appointed as (i) the Chairman of the Audit Committee and (ii) a member of the Nominating Committee and Remuneration Committee; and Mr Lam Kin, Lionel will be appointed as the Chairman of the Remuneration Committee and will remain as the Chairman of the Nominating Committee.

(c)

(d)

2.

Following the above mentioned changes, the new compositions of the Board and the Board committees will be as follows:
Board of Directors Designation Audit Committee Nominating Committee Remuneration Committee

Lee Gee Aik

Executive Vice Chairman

Dato Wong Sin Just

Non-Executive Chairman

Member

Member

Member

Lam Kin, Lionel

Independent Director

Member

Chairman

Chairman

Lo Wing Yan, William

Lead Independent Director

Chairman

Member

Member

3.

Further information in relation to the cessation of the Executive Directors as required under Rule 704(6) of the Catalist Rules are released in separate announcements made today.

BY ORDER OF THE BOARD Lee Gee Aik Executive Vice Chairman 29 January 2014

This announcement has been prepared by the Company and its contents have been reviewed by the Companys sponsor, PrimePartners Corporate Finance Pte. Ltd. (the Sponsor), for compliance with the relevant rules of the SGX-ST. The Sponsor has not independently verified the contents of this announcement. This announcement has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made or reports contained in this announcement. The contact person for the Sponsor is Mr Mark Liew, Managing Director, Corporate Finance, at 20 Cecil Street, #21-02 Equity Plaza, Singapore 049705, telephone (65) 6229 8088.