We refer to the announcement dated 8 November 2016 in relation to the Proposed Acquisition and Proposed Joint Venture. Unless otherwise stated, the terms used herein shall have the same meaning as defined in the said announcement in relation to the Proposed Acquisition and Proposed Joint Venture.

The Company wishes to announce that TRSB, CRECD and the Vendors had on 8 August 2017 mutually agreed to extend the date for fulfilment of all terms and conditions stipulated in the Share Sale Agreement dated 8 November 2016 for another 6 months until 7 November 2017.

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

This announcement is dated 8 August 2017.