South Shore : VERY SUBSTANTIAL DISPOSAL AND CONNECTED TRANSACTION - FURTHER 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.

VERY SUBSTANTIAL DISPOSAL

AND

CONNECTED TRANSACTION

FURTHER EXTENSION OF LONG STOP DATE

Reference is made to the announcement of South Shore Holdings Limited (the "Company") dated 28 June 2017 in relation to the Disposal, the announcements of the Company dated 19 December 2017, 14 March 2018, 28 September 2018, 28 March 2019, 31 July 2019, 31 March 2020 and 30 September 2020 in relation to extension of Long Stop Date and the circular of the Company dated 28 March 2018 (the "Circular"). Unless otherwise stated, capitalised terms used herein shall have the same meaning as those defined in the Circular.

Pursuant to the Sale and Purchase Agreements (as supplemented by their respective extension letters dated 19 December 2017, 14 March 2018, 28 September 2018, 28 March 2019, 31 July 2019, 31 March 2020 and 30 September 2020), Completion is subject to the conditions precedent under the respective Sale and Purchase Agreements being satisfied (or waived, if applicable) on or before 31 March 2021 or such other date as the Vendor and each of the Purchasers may agree in writing (the "Long Stop Date").

Ordinary resolution approving the Disposal has been passed at the special general meeting of the Company held on 8 May 2018.

As additional time is required for the fulfilment of certain conditions precedent under the Sale and Purchase Agreements, on 31 March 2021, the Vendor and each of the Purchasers agreed to further extend the Long Stop Date from 31 March 2021 to 30 September 2021 (or such other date as the Vendor and each of the Purchasers may agree in writing). Save for the aforesaid extension of the Long Stop Date, the other terms and conditions of the Sale and Purchase Agreements remain unchanged and continue in full force and effect.

By Order of the Board of

South Shore Holdings Limited

Mui Ching Hung, Joanna

Company Secretary

Hong Kong, 31 March 2021

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As at the date of this announcement, the directors of the Company are:

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