Shun Ho : DELAY IN DESPATCH OF CIRCULARS - ACQUISITION OF PROPERTY

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.

DELAY IN DESPATCH OF CIRCULARS

ACQUISITION OF PROPERTY

This announcement is made pursuant to Rule 14.36A of the Listing Rules

Reference is made to the joint announcement of Shun Ho Holdings Limited ("SHH"), Shun Ho Property Investments Limited ("SHP") and Magnificent Hotel Investments Limited ("MHI") (collectively, the "Companies") dated 29 January 2020 (the ''Joint Announcement'') and the supplementary announcement in relation to the joint announcement of acquisition of property dated 10 February 2020 (the ''Supplementary Announcement''). Unless otherwise indicated, capitalized terms used in this announcement bear the same meanings as those defined in the Joint Announcement and the Supplementary Announcement.

As disclosed in the Joint Announcement and the Supplementary Announcement, respective circulars containing further particulars of the Acquisition in accordance with Rules 14.63, 14.66 and 14.67 and other information as required under the Listing Rules will be despatched to the SHH Shareholders, SHP Shareholders and MHI Shareholders for information purposes on or around 25 March 2020 which is more than 15 business days after publication of the Joint Announcement, as additional time is required to prepare the information to be included in the circular, including the indebtedness statement and the valuation report.

SHH, SHP and MHI have already applied to the Stock Exchange for a waiver from strict compliance with Rule 14.41(a) of the Listing Rules and to postpone the despatch of the above-mentioned circulars from 19 February 2020 to a date on or around 25 March 2020. SHH, SHP and MHI has already obtained the waiver approval from the Stock Exchange for the despatch of the above-mentioned circulars on or around 25 March 2020.

Hong Kong, 17 February 2020

As at the date hereof, the Board of MHI comprises of five executive directors, namely Mr. William Cheng Kai Man, Mr. Albert Hui Wing Ho, Madam Kimmy Lau Kam May, Madam Ng Yuet Ying and Madam Jennie Wong Kwai Fong; one non-executive director, namely Madam Mabel Lui Fung Mei Yee; and three independent non-executive directors, namely Mr. Vincent Kwok Chi Sun, Mr. Chan Kim Fai and Mr. Lam Kwai Cheung.

As at the date hereof, the Board of SHP and SHH comprises of four executive directors, namely Mr. William Cheng Kai Man, Mr. Albert Hui Wing Ho, Madam Kimmy Lau Kam May and Madam Jennie Wong Kwai Fong; one non-executive director, namely Madam Mabel Lui Fung Mei Yee; and three independent non-executive directors, namely Mr. Vincent Kwok Chi Sun, Mr. Chan Kim Fai and Mr. Lam Kwai Cheung.