Pegasus Entertainment : Announcements and Notices - Voluntary Announcement - Business Update

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Transmit Entertainment Limited 傳 遞 娛 樂 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 1326)

VOLUNTARY ANNOUNCEMENT

BUSINESS UPDATE

This announcement is a voluntary announcement made by Transmit Entertainment Limited (the ''Company'', together with its subsidiaries, the ''Group'') to inform its shareholders the business updates of the Group.

The board of directors (the ''Board'') of the Company is pleased to announce that in order to achieve the long-term sustainable development strategy of the Group, the Group will form collaborative relationship with various artists, agencies and scriptwriters to make in-depth development in the film and television industry, further expand artist resources and enhance the Company's profile in the industry.

The Group will continue focusing on developing its existing business and the Board is of the view that the collaborative relationship with artists, agencies and scriptwriters can strengthen the existing business of the Group in the film and television industry.

By Order of the Board

Transmit Entertainment Limited

Zhang Liang, Johnson Chairman and Executive Director

Hong Kong, 14 January 2019

As at the date of this announcement, the Board comprises (i) four Executive Directors, namely Mr. ZHANG Liang, Johnson (Chairman), Ms. ZHAO Wenzhu, Mr. LEE Hin Kwong, Patrick and Mr. WONG Pak Ming; and (ii) three Independent Non-executive Directors, namely Mr. WANG Bo, Mr. XIANG Feng and Mr. CHANG Eric Jackson.

In the case of any inconsistency, the English text of this announcement shall prevail over the Chinese text.