Mayer : MAJOR ACQUISITION EXTENSION OF LONG STOP DATE

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1116)

MAJOR ACQUISITION

EXTENSION OF LONG STOP DATE

Reference is made to the circular of Mayer Holdings Limited (the "Company") dated 23 August 2019 (the "Circular") in relation to, among others, the Acquisition. Capitalised terms used herein shall have the same meanings as defined in the Circular unless the context requires otherwise.

As set out in the Circular, if the conditions set out in the Sale and Purchase Agreement have not been satisfied (or as the case may be, waived) on or before the Long Stop Date (i.e. 30 September 2019), the Sale and Purchase Agreement shall cease and determine (save and except clauses stated in the Sale and Purchase Agreement which shall continue to have full force and effect), and (i) no party shall have any claim against any of the others, except in respect of any antecedent breach of the terms thereof; and (ii) the Vendor shall unconditionally refund the Deposit (without interest) to the Purchaser within three (3) Business Days from the Long Stop Date.

As more time is required for the fulfilment of the conditions set out in the Sale and Purchase Agreement, the parties to the Sale and Purchase Agreement (the "Parties") have on 30 September 2019 (after trading hours) entered into the supplemental agreement, pursuant to which the Parties agreed to extend the Long Stop Date to 31 October 2019 (or such other date as the Parties may otherwise agree).

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Save as disclosed above, all other terms of the Sale and Purchase Agreement shall remain unchanged and in full force and effect.

For and on behalf of the Board

Mayer Holdings Limited

Lee Kwok Leung

Chairman and Executive Director

Hong Kong, 30 September 2019

As at the date hereof, the Board comprises two executive directors, namely Mr. Lee Kwok Leung and Mr. Xu Lidi; one non-executive director, namely Mr. Wang Dongqi; and three independent non-executive directors, namely Mr. Lau Kwok Hung, Mr. Deng Shimin and Mr. Cheung, Eddie Ho Kuen.

The English text of this announcement shall prevail over its Chinese text.

• For identification purpose only

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