CHYY Development Group Limited — Share Issue/Capital Change 2016

Dec 8, 2016

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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(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 8128)

GRANT OF SHARE OPTIONS

This announcement is made pursuant to Rule 23.06A of the Rules Governing the Listing of Securities on the Growth Enterprise Market (“ GEM Listing Rules ”) of The Stock Exchange of Hong Kong Limited (“ Stock Exchange ”).

The Board of Directors (“ Board ”) of China Ground Source Energy Industry Group Limited (“ Company ”) announces that the Company has granted the following share options, subject to acceptance of the grantees, under its share option scheme adopted on 28 July 2010 with details as follows:

Date of Grant:

8 December 2016

Exercise price of share options HK$0.30 to subscribe for one ordinary share of US$0.01 granted: each in the capital of the Company (“ Share ”)

Number of share options granted: 287,632,000 share options (each share option shall entitle the holder of the share option to subscribe for one Share)

Average closing price of the Shares HK$0.2288 per Share for the 5 business days immediately preceding the date of grant:

Closing price of a Share on the Date HK$0.226 per Share of Grant

Validity period of the share options: 8 December 2016 to 31 December 2020

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Out of the 287,632,000 share options granted, a total of 71,600,000 share options were granted to directors and chief executives of the Company, details of which are as follows:

			Number of shareoptions granted	Number of shareoptions granted	Number of shareoptions granted
NexXCJiaWW	ame of Director/chiefecutivePosition/Capacity		Number of shareoptions granted
	u Shan Wu Dang	henghengJoint Chairman Executive Dir	ector andve Directorrectorrector	22,000,000
		,
		substantial shareholder
		Wai Kay KatherineDeputy Chairman and Executi		22,000,0002,800,0002800000
		IddNiDi
		enzengnepenent on-executve
		hIddtNtiDi
		esengnepenen on-execuve		,,22,000,000
		MChifEtiOffi
		anquane xecuve cer
	e gpron-e		f executives of the Company (excludins).
		rantinofshareotionstotheabovedirectorsandchi
		g p		py g the independent
		ved by the independent non-executive directors of the
		xecutivedirectorwhoistheranteeoftheshareotio
		g p

The granting of share options to the above directors and chief executives of the Company has been approved by the independent non-executive directors of the Company (excluding the independent non-executive director who is the grantee of the share options).

Save as disclosed herein, none of the Grantees is a Director, chief executive or substantial shareholder (as defined in the GEM Listing Rules) of the Company, or any of their respective associate(s) (as defined in the GEM Listing Rules).

By Order of the Board of China Ground Source Energy Industry Group Limited Xu Shenghang Joint Chairman & Executive Director

Hong Kong, 8 December 2016

As at the date of this announcement, the Board comprises Mr. Liu Dajun, Mr. Xu Shengheng, Ms. Chan Wai Kay, Katherine, and Mr. Zang Yiran as executive Directors, Mr. Zhao Youmin and Mr. Daiqi as non-executive Directors, Mr. Jia Wenzeng, Mr. Wu Desheng and Mr. Zhang Honghai as independent non-executive Directors.

This announcement, for which the directors of the Company collectively and individually accept full responsibility, includes particulars given in compliance with the Rules Governing the Listing of Securities on the Growth Enterprise Market of The Stock Exchange of Hong Kong Limited for the purpose of giving information with regard to the Company. The directors, having made all reasonable enquiries, confirm that to the best of their knowledge and belief the information contained

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in this announcement is accurate and complete in all material respects and not misleading or deceptive, and there are no other matters the omission of which would make any statement herein or this announcement misleading.

This announcement will remain on the GEM website with the domain name of www.hkgem.com on the “Latest Company Announcement” page for at least 7 days from the date of publication and on the website of the Company at www.cgsenergy.com.hk.

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