GoFintech Quantum Innovation Limited — Share Issue/Capital Change 2011

Jul 22, 2011

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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NEW TIMES ENERGY CORPORATION LIMITED 新時代能源有限公司[*]

(incorporated in Bermuda with limited liability)

(Stock code: 00166)

GRANT OF SHARE OPTIONS

This announcement is made 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 New Times Energy Corporation Limited (the “ Company ”) announces that on 22 July 2011, a total of 240,000,000 share options (the “ Share Options ”) were granted to certain individuals (the “ Grantees ”), subject to acceptance of the Grantees, to subscribe for up to a total of 240,000,000 ordinary shares of HK$0.10 each of the Company (the “ Shares ”) under the share option scheme of the Company adopted on 17 May 2011. The details of the Share Options granted are as follows:

Date of grant : 22 July 2011 Exercise price of Share Options : HK$0.11 per Share, which represents: granted

• (i) a premium of approximately 5% to the closing price of HK$0.105 per Share as stated in the daily quotation sheet of the Stock Exchange on the date of grant of the Share Options;

• (ii) a premium of approximately 5% to the average closing price of HK$0.105 per Share as stated in the daily quotations sheet of the Stock Exchange for the five business days immediately preceding the date of grant of the Share Options; and

• (iii) a premium of approximately 10% to the nominal value of HK$0.10 per Share on the date of grant

• For identification purposes only

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Number of Share Options granted : 240,000,000 Share Options, each Share Option entitling the Grantee to subscribe for one Share

Closing price of the Shares on : HK$0.105 per Share the date of grant

Validity period (exercisable : 22 July 2011 – 21 July 2014, both days inclusive period) of Share Options

Out of the above 240,000,000 Share Options granted, a total of 195,000,000 Share Options were granted to the following directors of the Company, details of which are as follows:

		Number of
Name of grantees	Position held with the Company	Share Options granted
Cheng Kam Chiu, Stewart	Chairman and Executive Director	90,000,000
Cheng Ming Kit	Executive Director	60,000,000
Wong Man Kong, Peter	Non-executive Director	9,000,000
Chan Chi Yuen	Non-executive Director	9,000,000
Fung Chi Kin	Independent non-executive Director	9,000,000
Fung Siu To, Clement	Independent non-executive Director	9,000,000
Chiu Wai On	Independent non-executive Director	9,000,000

The granting of the Share Options to the above Grantees has been approved by all the independent non-executive directors of the Company (with the respective independent nonexecutive director abstaining from voting on the relevant resolution approving the grant of Share Options to him).

Save as disclosed above, none of the Grantees is a director, chief executive or substantial shareholder of the Company, nor an associate of any of them (as defined in the Listing Rules).

By offering performance-based Share Options, the Company intends to provide management staff and employees with additional performance incentives, and encourage them to remain in the employment of the Group and devote their best efforts to the Group, thereby bringing enhanced performance and contributions to the interests of the Company and its shareholders.

By order of the Board New Times Energy Corporation Limited Cheng Kam Chiu, Stewart Chairman

Hong Kong, 22 July 2011

As at the date of this announcement, the board of Directors comprises seven Directors, of which two are executive Directors, namely Mr. Cheng Kam Chiu, Stewart and Mr. Cheng Ming Kit; two non-executive Directors, namely Mr. Wong Man Kong, Peter and Mr. Chan Chi Yuen; and three independent non-executive Directors, namely Mr. Fung Chi Kin, Mr. Fung Siu To, Clement and Mr. Chiu Wai On.

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