Global Corn Group Limited — Capital/Financing Update 2018

Jul 16, 2018

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibilities for the content 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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Global Bio-chem Technology Group Global Sweeteners Holdings Limited Company Limited 大成生化科技集團有限公司 * 大成糖業控股有限公司[*]

(incorporated in the Cayman Islands with limited liability) (incorporated in the Cayman Islands with limited liability) (Stock Code: 00809) (Stock code: 03889)

JOINT ANNOUNCEMENT

TRANSFER OF TWO SUBSIDIARIES IN CHANGCHUN FROM THE GSH GROUP TO THE GBT GROUP

DISCLOSEABLE TRANSACTION

MAJOR TRANSACTION IN RELATION TO DISPOSAL AND CONNECTED TRANSACTION

FURTHER EXTENSION OF LONG STOP DATE

Reference is made to the joint announcements (the “ Joint Announcements ”) of Global Bio-chem Technology Group Company Limited and Global Sweeteners Holdings Limited dated 21 July 2017 and 16 January 2018 in relation to the transfer of two subsidiaries in Changchun from GSH Group to GBT Group. Capitalised terms used herein shall have the same meanings as those defined in the Joint Announcements.

Pursuant to the S&P Agreement, Completion is conditional upon fulfillment or waiver of the conditions precedent set out in the paragraph headed “Conditions” in the Joint Announcements on or before the Long Stop Date, which Long Stop Date shall be the date falling 180 days after the date of the S&P Agreement, or such later date as the Vendors and the Purchaser may agree.

Additional time is required for the fulfillment of the conditions precedent, specifically, the management are still in the process of discussing with relevant banks for the release of the guarantees and/or charges given by a member of the GSH Group in respect of the indebtedness of Dihao Foodstuff. As such, the Vendors and the Purchaser have agreed to further extend the Long Stop Date to 31 December 2018 or such later date as the Vendors and the Purchaser may agree. Save for the above, all other terms and conditions of the S&P Agreement shall remain unchanged and continue in full force and effect.

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Further announcement(s) will be made by Global Bio-chem Technology Group Company Limited and Global Sweeteners Holdings Limited to update the status of the Transaction as and when appropriate.

By order of the GBT Board By order of the GSH Board Global Bio-chem Technology Group Company Limited Global Sweeteners Holdings Limited Yuan Weisen Kong Zhanpeng Chairman Chairman

Hong Kong, 16 July 2018

As at the date of this announcement, the GBT Board comprises three executive directors, namely Mr. Yuan Weisen, Mr. Zhang Zihua and Mr. Liu Shuhang; and three independent non-executive directors, namely, Mr. Ng Kwok Pong, Mr. Yeung Kit Lam and Ms. Chiu Lai Ling Shirley.

As at the date of this announcement, the GSH Board comprises two executive directors, namely Mr. Kong Zhanpeng and Mr. Zhang Zihua; and three independent non-executive directors, namely, Mr. Ho Lic Ki, Mr. Lo Kwing Yu and Mr. Yuen Tsz Chun.

• For identification purposes only

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