Central Development Holdings Limited — Capital/Financing Update 2017

Feb 22, 2017

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.

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CHINA RESOURCES AND TRANSPORTATION GROUP LIMITED 中國資源交通集團有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 269)

UPDATE ON DEBT RESTRUCTURING

Reference is made to the announcements of China Resources and Transportation Group Limited (the “ Company ”) dated 3 February 2017 and 7 February 2017 (the “ Announcements ”) in relation to, among others, the statutory demand (the “ Statutory Demand ”) received by the Company. Unless the context otherwise requires, capitalised terms in this announcement shall have the same meanings as those defined in the Announcements.

As disclosed in the Announcements, on 6 February 2017, the Company received a Statutory Demand from the Bank, requiring the Company to pay the Outstanding Amounts within 3 weeks from the date of service of the Statutory Demand, failing which the Bank may apply to the court for a winding up petition of the Company, the aforesaid 3-week period will end on 27 February 2017 (the “ Grace Period ”).

On 22 February 2017, the Company received a letter from the Bank, informing the Company that the bank will extend the Grace Period to 16 March 2017 (the “ Extended Period ”), to negotiate the repayment proposal. The Bank has agreed not to apply to the court for a winding up petition of the Company on or before the expiration of the Extended Period.

The Board is discussing with its legal adviser and financial adviser and considering debt restructuring plans. Further announcement(s) relating to the debt restructuring will be made by the Company as and when appropriate.

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Shareholders of the Company and potential investors are advised to exercise caution when dealing in the shares and other securities of the Company.

By order of the Board

China Resources and Transportation Group Limited

Cao Zhong Chairman

Hong Kong, 22 February 2017

As at the date of this announcement, the Board comprises six executive Directors, namely Messrs Cao Zhong, Fung Tsun Pong, Duan Jingquan, Tsang Kam Ching, David, Gao Zhiping and Jiang Tao; a non-executive Director namely Mr. Suo Suo Stephen; and four independent non-executive Directors, namely Messrs Yip Tak On, Jing Baoli, Bao Liang Ming and Xue Baozhong.

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