We refer to the announcements dated 21 May 2014, 17 June 2014, 19 January 2015, 12 February 2015, 28 September 2015, 17 November 2015 and 16 February 2016 in relation to the Proposed Acquisition (“Announcements”). Unless otherwise stated, the terms used herein shall have the same meaning as defined in the said Announcements in relation to the Proposed Acquisition.

On behalf of the Board, TA Securities wishes to announce that CMD and the Vendor had on 26 May 2016 mutually agreed to further extend the date for fulfilment of the Conditions Precedent stipulated in the SPA and Supplemental Agreement from 10 May 2016 until 10 December 2016, as it is pending the necessary authority’s consent to effectively transfer the land to CMD and to allow sufficient time for the relevant authority to process the transfer of land.

Any further extension after the expiry of the abovementioned date will be subject to agreement between both parties.

This announcement is dated 26 May 2016.