Central Development Holdings Limited — Share Issue/Capital Change 2021

Sep 23, 2021

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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CENTRAL DEVELOPMENT HOLDINGS LIMITED 中發展控股有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 475)

GRANT OF SHARE OPTIONS

This announcement is made by Central Development Holdings Limited (the “ Company ”, which together with its subsidiaries, the “ Group ”) pursuant to Rule 17.06A of the Rules Governing the Listing of Securities (the “ Listing Rules ”) on The Stock Exchange of Hong Kong Limited (the “ Stock Exchange ”).

The board of directors (the “ Board ”) of the Company hereby announces that the Company has granted to the eligible employees of the Group (the “ Grantees ”), subject to the acceptance by the Grantees, a total of 4,000,000 share options (the “ Share Options ”) to subscribe for up to a total of 4,000,000 ordinary shares of nominal value of HK$0.01 each in the share capital of the Company (the “ Share(s) ”), representing approximately 1.03% of the issued share capital of the Company, under its share option scheme adopted on 9 September 2016, details of which are set out as below:

Date of grant: 23 September 2021 (the “ Date of Grant ”)

Exercise price of Share HK$1.120 per Share (being the highest of: (i) the closing Options granted: price of HK$1.120 per Share as stated in the Stock Exchange’s daily quotations sheets on the Date of Grant; (ii) the average closing price of HK$1.088 per Share as stated in the Stock Exchange’s daily quotations sheets for the five business days immediately preceding the Date of Grant; and (iii) the nominal value of the Share)

Number of Share 4,000,000 Share Options (each Share Option shall entitle the Options granted: holder of the Share Option to subscribe for one Share of the Company)

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Closing price of the HK$1.120 per Share Shares on the Date of Grant:

Validity period of the From 23 September 2021 to 22 September 2031 (both dates Share Options (the inclusive) subject to acceptance of the Share Options “ Validity Period ”):

Vesting period of Share Options:

100% of the Share Options shall be exercisable from 23 September 2021 to 22 September 2031 (both dates inclusive)

Consideration HK$10 to be paid by each of the Grantees upon acceptance for the grant: of the Share Options granted

To the best knowledge, information and belief of the directors of the Company, having made all reasonable enquiries, the Grantees of the Share Options is neither a director, chief executive nor substantial shareholder of the Company, nor an associate (as defined in the Listing Rules) of any of them.

No Share Options will be exercisable after the expiry of the Validity Period.

By order of the Board CENTRAL DEVELOPMENT HOLDINGS LIMITED Chow Chi Shing Company Secretary

Hong Kong, 23 September 2021

As at the date of this announcement, the Board consists of three executive Directors, namely Mr. Wu Hao, Mr. Hu Yangjun and Mr. Chan Wing Yuen, Hubert; a non-executive Director, namely Mr. Li Wei Qi, Jacky; and three independent non-executive Directors, namely Mr. Wu Chi Keung, Mr. Jin Qingjun and Ms. Sun Ivy Connie.

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