Enterprise Development Holdings Limited — Capital/Financing Update 2015

Jun 17, 2015

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.

This announcement is for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for any securities of the Company.

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ENTERPRISE DEVELOPMENT HOLDINGS LIMITED 企展控股有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1808)

COMPLETION OF PLACING OF NEW SHARES UNDER GENERAL MANDATE AND

EARLY REDEMPTION OF PROMISSORY NOTES

COMPLETION OF PLACING OF NEW SHARES UNDER GENERAL MANDATE

Reference is made to the announcement of Enterprise Development Holdings Limited (the “Company”) dated 28 May 2015 (the “Announcement”) in relation to, among others, the placing of new shares under general mandate. Unless otherwise specified, capitalized terms used herein shall have the same meanings as those defined in the Announcement.

The Board is pleased to announce that all the conditions precedent set out in the Placing Agreement have been fulfilled and the Placing was completed on 17 June 2015 in accordance with its terms and conditions. An aggregate of 483,700,000 Placing Shares were successfully placed by the Placing Agent to not less than six Placees at HK$0.250 per Placing Share.

To the best of the Directors’ knowledge, information and belief, having made all reasonable enquiries, the Placees and their ultimate beneficial owner(s) are Independent Third Parties. None of the Placees and their respective associates becomes a substantial shareholder (as defined under the Listing Rules) of the Company upon completion of the Placing.

The net proceeds from the Placing, after deducting the related placing commission, professional fees and all related expenses, is approximately HK$117.18 million. The net price raised per Placing Share is approximately HK$0.242. As stated in the Announcement, the proceeds from the Placing is intended to be used for general working capital of the Group (including trading of securities). The Company intends to apply the proceeds in the amount of HK$110.62 million for early redemption of promissory notes as disclosed in the section headed ‘EARLY

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REDEMPTION OF PROMISSORY NOTES’ below.

Shareholding structure of the Company

The shareholding structure of the Company immediately before and after completion of the Placing are as follows:

Name of ShareholdersAffluent Start Holdings Limited(Note)Public ShareholdersPlaceesTotal	Immediately beforecompletion of the PlacingNo. of SharesApprox%604,355,00024.991,814,204,82775.01- 2,418,559,827100.00	Immediately aftercompletion of the PlacingNo. of SharesApprox%604,355,00020.821,814,204,827483,700,00062.5116.672,902,259,827100.00	Immediately aftercompletion of the PlacingNo. of SharesApprox%604,355,00020.821,814,204,827483,700,00062.5116.672,902,259,827100.00
			100.00

Note: Affluent Start Holdings Limited is a company incorporated in the British Virgin Islands with limited liability which is wholly and beneficially owned by Mr. King Pak Fu.

EARLY REDEMPTION OF PROMISSORY NOTES

Reference is also made the circular of the Company dated 24 April 2015 relating to, among others, the acquisition of the entire issued share capital of Gravitas Group Limited. Promissory Notes (“Promissory Notes”) in an aggregate principal amount of HK$160,000,000 were issued to Gloss Rise Limited (“Gloss Rise”) on 14 May 2015 upon completion of the transaction.

The Board hereby announces that the Company has served notice to Gloss Rise for the early redemption of the Promissory Notes in the principal amount of HK$110,000,000 together with the accrued interest on 17 June 2015.

By Order of the Board Enterprise Development Holdings Limited Lam Kai Tai Executive Director

Hong Kong, 17 June 2015

As at the date of this announcement, the Board comprises three executive Directors, namely Mr. Jia Bowei (Chairman), Mr. Wang Jun, Mr. Lam Kai Tai and Mr. Wong Ho Sing, and three independent non-executive Directors, namely Mr. Yau Yan Ming Raymond, Ms. Hu Gin Ing and Mr. Liu Kam Lung.

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