Central Development Holdings Limited — Capital/Financing Update 2019

Apr 16, 2019

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 Cayman Islands with limited liability)

(Stock Code: 269)

UPDATE ON OUTSTANDING PROMISSORY NOTE

Reference is made to the announcement of China Resources and Transportation Group Limited (the “ Company ”) dated 21 May 2009 in relation to, among others, the issue of Promissory Note (the “ Announcement ”). Unless otherwise specified, capitalised terms used herein shall have the same meanings as those defined in the Announcement.

On 9 February 2010, the Company issued the Promissory Note with principal amount of HK$280,000,000 to China Alliance. The Promissory Note bore interests at 1.5% per annum payable quarterly commencing from the date of the issue by 14 installments of HK$20,000,000 each with the interest accrued thereon. On 23 May 2012, the Company and China Alliance signed a supplemental agreement pursuant to which the repayment terms of the Promissory Note were extended and the Company is required to pay a default interests at 18.25% per annum.

The Board is pleased to announce that on 16 April 2019, the Company and China Alliance agreed to issue a new promissory note (the “ New Promissory Note ”) on a dollar-for-dollar basis to replace and supersede the outstanding principal amount of the Promissory Note and the relevant accrued and default interests. The New Promissory Note has a principal amount of approximately HK$683 million and bears coupon interests at 5% per annum payable on the maturity date, being the fifth anniversary from the issue date.

By Order of the Board

Cao Zhong

Chairman

Hong Kong, 16 April 2019

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.