Star Properties Cayman Islands : DISCLOSURE PURSUANT TO RULE 13.18 OF THE LISTING RULES

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Star Properties Group (Cayman Islands) Limited

星 星 地 產 集 團 (開 曼 群 島) 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1560)

DISCLOSURE PURSUANT TO

RULE 13.18 OF THE LISTING RULES

This announcement is made pursuant to Rule 13.18 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules").

The board (the "Board") of directors (the "Directors") of Star Properties Group (Cayman Islands) Limited (the "Company", together with its subsidiaries, the "Group"), announce that on 13 August 2020, Noble Energy Limited (the "Borrower", an indirect wholly owned subsidiary of the Company) entered into a facility agreement (the "Facility Agreement") with a bank for the land and construction loan up to an aggregated amount of HK$255,048,000 at the terms of 21 months from the date of signing of Facility Agreement or 6 months after the issuance of occupation permit for the project located at Nos.107-111 Tung Chau Street, Tai Kok Tsui, Kowloon, Hong Kong (known as "Tack Lee Project"), whichever is earlier.

Pursuant to the terms of the Facility Agreement, the Company undertakes with the bank, inter alia, that:

Mr. Chan Man Fai Joe (the "Controlling shareholder") shall maintain his directorship and / or indirect beneficial shareholding in the Company for not less than 60% and maintain control over the management and business of the Group.

As at the date of this announcement, the Controlling Shareholder holds approximately 67.75% of the issued share capital of the Company.

In accordance with the requirements under Rule 13.21 of the Listing Rules, the Company will make disclosures in its subsequent interim and annual reports for so long as circumstances giving rise to the obligation under Rule 13.18 of the Listing Rules continue to exist.

For and on behalf of the Board

Star Properties Group (Cayman Islands) Limited

Chan Man Fai Joe

Chairman

Hong Kong, 13 August, 2020

As at the date of this announcement, the Board consists of eight Directors comprising four executive Directors, namely Mr. Chan Man Fai Joe, Prof. Pong Kam Keung, Ms. Cheung Wai Shuen and Mr. Liu Hon Wai; one non-executive Directors, namely Mr. Yim Kwok Man; and three independent non-executive Directors, namely Dr. Wong Wai Kong, Mr. Lee Chung Ming Eric and Ms. Chan Wah Man Carman.