E-Commodities Holdings Limited — Capital/Financing Update 2019

Sep 25, 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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E-COMMODITIES HOLDINGS LIMITED 易大宗控股有限公司

(Incorporated in the British Virgin Islands with limited liability)

(Stock Code: 1733)

ADJUSTMENT TO CONVERSION PRICE AND THE SUBSCRIPTION PRICE OF THE BONDS THE WARRANTS ISSUED ON 14 SEPTEMBER 2017

References are made to the announcements of E-Commodities Holdings Limited (the “ Company ”) dated 2 June, 14 August, 15 September, 8 November, 9 November 2017 and 9 July, 21 September 2018 in relation to, among other things, the issue of the Bonds in an aggregate principal amount of US$40,000,000 and the 118,060,606 Warrants (the “ Announcements ”), the circulars (the “ Circulars ”) of the Company dated 6 July 2017 and 15 August 2017 and the EGM poll results announcements dated 24 July 2017 and 6 September 2017. Capitalised terms used in this announcement shall bear the same meanings as those defined in the Circulars and/or Announcements unless the context requires otherwise.

CONVERSION PRICE ADJUSTMENT

The Board announces that pursuant to the provision on adjustments to the Conversion Price set out in the terms and conditions of the Bonds, the Conversion Price of the Bonds shall be adjusted from HK$0.72 to HK$0.604 per Conversion Share (the “ Conversion Price Adjustment ”) as a result of the declaration by the Company on 28 March 2019 of an final dividend of HK$0.072 per Share for the 12 months ended 31 December 2018. The Conversion Price Adjustment was effective from 23 July 2019, being the day next following the record date for the final dividend, in accordance with the terms and conditions of the Bonds. All other terms of the Bonds remain unchanged.

As at the date of this announcement, the outstanding principal amount of the Bonds is US$30,000,000. The Bonds entitled the holder thereof to convert the outstanding Bonds to 386,423,841 Convertible Share after the Conversion Price Adjustment. The Conversion Shares will be issued and allotted pursuant to the Specific Mandate. The Company is entitled to issue and allot such number of shares of the Company as may be required to be issued and allotted upon exercise of the Conversion Rights attached to the Bonds, and the Company has not fully utilized the Specific Mandate as at the date of this announcement.

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WARRANT SUBSCRIPTION PRICE ADJUSTMENT

The Board further announces that pursuant to the provision on adjustments to the Warrant Subscription Price set out in the terms and conditions of the Warrants, the Warrant Subscription Price shall be adjusted from HK$0.908 to HK$0.761 per Warrant Share (the “ Warrant Subscription Price Adjustment ”) as a result of the declaration by the Company on 28 March 2019 of an final dividend of HK$0.072 per Share for the 12 months ended 31 December 2018. The Warrant Subscription Price Adjustment was effective from 23 July 2019, being the day next following the record date for the final dividend, in accordance with the terms and conditions of the Warrants. All other terms of the Warrants remain unchanged.

By Order of the Board E-Commodities Holdings Limited Cao Xinyi Chairman

Hong Kong, 25 September 2019

As at the date of this announcement, the executive directors of the Company are Ms. Cao Xinyi, Mr. Wang Yaxu, Mr. Li Jianlou and Ms. Di Jingmin; the non-executive director of the Company is Mr. Guo Lisheng; and the independent non-executive directors of the Company are Mr. Ng Yuk Keung, Mr. Wang Wenfu and Mr. Gao Zhikai.

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