IBI Group Holdings Limited — AGM Information 2017

Jul 28, 2017

THIS CIRCULAR IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION.

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this circular, 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 circular.

If you are in any doubt as to any aspect of this circular or as to the action to be taken, you should consult your licensed securities dealer or registered institution in securities, bank manager, solicitor, professional accountant or other professional advisers.

If you have sold or transferred all your shares in IBI Group Holdings Limited, you should at once hand this circular and the accompanying form of proxy to the purchaser or transferee or to the bank, licensed securities dealer, registered institution in securities or other agent through whom the sale or transfer was effected for transmission to the purchaser or transferee.

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IBI Group Holdings Limited

(incorporated in the Cayman Islands with limited liability)

(Stock Code: 1547)

PROPOSALS FOR

GENERAL MANDATES TO ISSUE SHARES AND REPURCHASE SHARES; RE-ELECTION OF DIRECTORS; DECLARATION OF FINAL DIVIDEND;

AND

NOTICE OF ANNUAL GENERAL MEETING

Capitalised terms used in the lower portion of this page and the cover inside page shall have the same respective meanings as those defined in the section headed ‘‘Definitions’’ of this circular.

A notice convening the Company’s annual general meeting to be held at 2401–02, 24/F., Admiralty Centre 1, 18 Harcourt Road, Hong Kong on Friday, 22 September 2017 at 10 a.m. is set out on pages 20 to 25 of this circular.

A form of proxy for use in connection with the 2017 AGM is enclosed with this circular. If you do not intend to attend the 2017 AGM but wish to exercise your right as a Shareholder, you are requested to complete and sign the form of proxy in accordance with the instructions printed thereon and return the same to the Company’s branch share registrar and transfer office in Hong Kong, Tricor Investor Services Limited located at Level 22, Hopewell Centre, 183 Queen’s Road East, Hong Kong not later than 48 hours before the time appointed for holding the 2017 AGM or the adjournment thereof. Completion and return of the form of proxy will not preclude you from subsequently attending and voting in person at the 2017 AGM or the adjournment thereof should you so wish and in such event, the form of proxy shall be deemed to be revoked.

28 July 2017

TABLE OF CONTENTS

	Page
DEFINITIONS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	1
LETTER FROM THE BOARD . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	3
Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	3
Issue Mandate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	4
Repurchase Mandate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	4
Extension of the Issue Mandate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	4
Re-election of Directors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	5
Declaration of final dividend . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	5
2017 AGM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	6
Form of proxy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	6
Voting by poll . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	6
Responsibility statement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	7
Recommendation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	7
APPENDIX I — PARTICULARS OF DIRECTORS PROPOSED
FOR RE-ELECTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	8
APPENDIX II — EXPLANATORY STATEMENT . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	15
NOTICE OF 2017 AGM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	20

This circular is prepared in both English and Chinese. In the event of any inconsistency, the English text of this circular shall prevail.

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DEFINITIONS

In this circular, unless the context otherwise requires, the following expressions shall have the following respective meanings:

• ‘‘2017 AGM’’ the annual general meeting of the Company to be held at 2401–02, 24/F., Admiralty Centre 1, 18 Harcourt Road, Hong Kong on Friday, 22 September 2017 at 10 a.m.

• ‘‘Articles of Association’’ the articles of association of the Company as adopted by the Shareholders on 20 September 2016 and as amended, supplemented or otherwise modified from time to time

• ‘‘associate(s)’’ has the meaning ascribed thereto under the Listing Rules ‘‘Audit Committee’’ the audit committee of the Board

• ‘‘Board’’ the board of Directors

• ‘‘close associate(s)’’ has the meaning ascribed thereto under the Listing Rules ‘‘Companies Ordinance’’ the Companies Ordinance (Chapter 622 of the Laws of Hong Kong) as amended or otherwise modified from time to time

‘‘Company’’ IBI Group Holdings Limited, a company incorporated in the Cayman Islands with limited liability, the issued Shares of which are listed and traded on the Main Board of the Stock Exchange (stock code: 1547)

• ‘‘controlling shareholder(s)’’ has the meaning ascribed thereto under the Listing Rules ‘‘core connected person(s)’’ has the meaning ascribed thereto under the Listing Rules

• ‘‘Director(s)’’ the director(s) of the Company

• ‘‘Group’’ the Company and its subsidiaries

‘‘HK$’’ Hong Kong dollars, the lawful currency of Hong Kong ‘‘Hong Kong’’ Hong Kong Special Administrative Region of the PRC ‘‘INED(s)’’ the independent non-executive Director(s)

‘‘Issue Mandate’’ the general and unconditional mandate proposed to be granted to the Directors at the 2017 AGM to allot, issue and deal with Shares not exceeding 20% of the aggregate number of the issued Shares as at the date of passing the relevant resolution granting such mandate

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DEFINITIONS

• ‘‘Latest Practicable Date’’

• 22 July 2017, being the latest practicable date prior to the printing of this circular for the purpose of ascertaining certain information contained in this circular

• ‘‘Listing Date’’ 14 October 2016, being the date on which the Shares were listed on the Main Board of the Stock Exchange

• ‘‘Listing Rules’’

• the Rules Governing the Listing of Securities on the Stock Exchange as amended, supplemented or otherwise modified from time to time

• ‘‘Mandatory General Offer’’

• a mandatory offer in accordance with Rule 26 of the Takeovers Code

• ‘‘Nomination Committee’’

the nomination committee of the Board

• ‘‘PRC’’

• the People’s Republic of China

• ‘‘Predecessor Companies Ordinance’’

• the Companies Ordinance (Chapter 32 of the Laws of Hong Kong) as in force from time to time before 3 March 2014

• ‘‘Remuneration Committee’’ the remuneration committee of the Board

• ‘‘Repurchase Mandate’’

• the general and unconditional mandate proposed to be granted to the Directors at the 2017 AGM to repurchase Shares not exceeding 10% of the aggregate number of the issued Shares as at the date of passing the relevant resolution granting such mandate

• ‘‘SFO’’

• ‘‘Share(s)’’

• the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) as amended, supplemented or otherwise modified from time to time ordinary share(s) with nominal value of HK$0.01 each in the capital of the Company

• ‘‘Shareholder(s)’’

the holder(s) of the Share(s)

• ‘‘Stock Exchange’’

The Stock Exchange of Hong Kong Limited

• ‘‘subsidiary(ies)’’

has the meaning ascribed thereto under the Listing Rules

• ‘‘substantial shareholder(s)’’

has the meaning ascribed thereto under the Listing Rules

• ‘‘Takeovers Code’’

the Codes on Takeovers and Mergers and Share Buy-backs as amended from time to time and administered by the Securities and Futures Commission of Hong Kong

• ‘‘Year’’

the year ended 31 March 2017

• ‘‘%’’

per cent

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LETTER FROM THE BOARD

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IBI Group Holdings Limited

(incorporated in the Cayman Islands with limited liability)

(Stock Code: 1547)

Executive Directors: Mr. Neil David Howard (Chairman and Chief Executive Officer) Mr. Steven Paul Smithers

Independent non-executive Directors: Mr. Richard Gareth Williams Mr. Robert Peter Andrews Mr. Lap Shek Eddie Wong

Registered office: 89 Nexus Way, Camana Bay Grand Cayman KY1-9007 Cayman Islands

Principal place of business in Hong Kong: 3/F, Bangkok Bank Building 18 Bonham Strand West Hong Kong

28 July 2017

To the Shareholders

Dear Sir or Madam,

PROPOSALS FOR

GENERAL MANDATES TO ISSUE SHARES AND REPURCHASE SHARES; RE-ELECTION OF DIRECTORS; DECLARATION OF FINAL DIVIDEND; AND

NOTICE OF ANNUAL GENERAL MEETING

INTRODUCTION

The Directors wish to seek the approval of the Shareholders at the 2017 AGM for, among other matters, the grant of the Issue Mandate and the Repurchase Mandate, the extension of the Issue Mandate, the proposed re-election of the Directors and the declaration of final dividend.

The purpose of this circular is to give you the information regarding the resolutions to be proposed at the 2017 AGM relating to the above matters and the notice of the 2017 AGM.

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LETTER FROM THE BOARD

ISSUE MANDATE

In order to ensure flexibility and give discretion to the Directors, in the event that it becomes desirable for the Company to issue any new Shares, approval is to be sought from the Shareholders, pursuant to the Listing Rules, for the Issue Mandate to issue Shares. At the 2017 AGM, an ordinary resolution will be proposed to grant the Issue Mandate to the Directors. Based on 800,000,000 Shares in issue as at the Latest Practicable Date and assuming that no further Shares will be issued or no Shares will be repurchased and cancelled after the Latest Practicable Date and up to the date of the 2017 AGM, the Directors will be able to allot, issue and deal with up to a total of 160,000,000 Shares, being 20% of the total number of the issued Shares as at the date of the resolution in relation thereto if the Issue Mandate is granted at the 2017 AGM, which will remain in effect until the earliest of (i) the conclusion of the next annual general meeting; (ii) the expiration of the period within which the next annual general meeting is required to be held by the Articles of Association or any applicable laws of the Cayman Islands; or (iii) the date on which such authority is revoked or varied by an ordinary resolution of the Shareholders at general meeting of the Company.

REPURCHASE MANDATE

In addition, an ordinary resolution will be proposed at the 2017 AGM to grant the Repurchase Mandate to the Directors. Subject to the passing of the proposed ordinary resolution approving the grant of the Repurchase Mandate and based on the 800,000,000 Shares in issue as at the Latest Practicable Date and assuming that no further Shares will be issued or no Shares will be repurchased and cancelled after the Latest Practicable Date and up to the date of the 2017 AGM, the Company would be allowed to repurchase a maximum of 80,000,000 Shares, being 10% of the total number of the issued Shares as at the date of the resolution in relation thereto. The Repurchase Mandate, if granted, will be effective until the earliest of (i) the conclusion of the next annual general meeting; (ii) the expiration of the period within which the next annual general meeting is required to be held by the Articles of Association or any applicable laws of the Cayman Islands; and (iii) the passing of an ordinary resolution by the Shareholders at general meeting of the Company revoking or varying the authority given to the Directors.

An explanatory statement in connection with the Repurchase Mandate is set out in Appendix II to this circular. The explanatory statement contains all the requisite information required under the Listing Rules to be given to the Shareholders to enable them to make an informed decision on whether to vote for or against the resolution approving the Repurchase Mandate.

EXTENSION OF THE ISSUE MANDATE

Subject to the passing of the ordinary resolutions to grant the Issue Mandate and the Repurchase Mandate, an ordinary resolution will be proposed at the 2017 AGM to extend the Issue Mandate by the addition to the aggregate number of the Shares which may be allotted or agreed conditionally or unconditionally to be allotted by the Directors pursuant to such general mandate of an amount representing the aggregate number of the Shares repurchased by the

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LETTER FROM THE BOARD

Company pursuant to the Repurchase Mandate provided that such extended amount shall not exceed 10% of the aggregate number of the issued Shares as at the date of passing the resolution in relation thereto.

RE-ELECTION OF DIRECTORS

As at the Latest Practicable Date, there were two executive Directors, namely Mr. Neil David Howard and Mr. Steven Paul Smithers; and three INEDs, namely Mr. Richard Gareth Williams, Mr. Robert Peter Andrews and Mr. Lap Shek Eddie Wong.

Article 108(a) of the Articles of Association provides that one-third of the Directors for the time being, or, if their number is not a multiple of three, the number nearest to but not less than one-third shall retire from office by rotation at each annual general meeting provided that every Director shall be subject to retirement by rotation at least once every three years and shall be eligible for re-election. Article 112 of the Articles of Association provides that any additional Directors appointed by the Board shall hold office only until the next following annual general meeting and shall then be eligible for re-election.

In accordance with these articles, all the Directors will retire from office and being eligible, have offered themselves for re-election at the 2017 AGM.

The biographical details of each of the retiring Directors to be re-elected at the 2017 AGM are set out in Appendix I to this circular in accordance with the relevant requirements under the Listing Rules.

The Nomination Committee has assessed and reviewed the annual written confirmation of independence of each of the INEDs based on the independence criteria as set out in Rule 3.13 of the Listing Rules and confirmed that all the INEDs remain independent. In addition, with the nomination of the Nomination Committee, the Board has recommended that all the retiring Directors, namely Mr. Neil David Howard, Mr. Steven Paul Smithers, Mr. Richard Gareth Williams, Mr. Robert Peter Andrews and Mr. Lap Shek Eddie Wong, stand for re-election as Directors at the 2017 AGM. For good corporate governance, each of the retiring Directors abstained from voting at the relevant Board meeting on the respective propositions of their recommendations for re-election by the Shareholders.

DECLARATION OF FINAL DIVIDEND

The Board has recommended the payment of a final dividend of HK1.0 cents per Share to the Shareholders whose names appear on the register of members of the Company on Friday, 6 October 2017, subject to the Shareholders’ approval at the 2017 AGM.

Subject to the approval of the Shareholders at the 2017 AGM, the proposed final dividend will be payable on or about Wednesday, 18 October 2017 to the Shareholders whose names appear on the register of members of the Company on Friday, 6 October 2017. To ascertain the entitlement of the Shareholders to the proposed final dividend, the register of members of the Company will be closed from Tuesday, 3 October 2017 to Friday, 6 October 2017, both days inclusive, during which period no transfer of Shares will be registered by the Company. In order to qualify for the proposed final dividend, all duly completed transfer forms accompanied

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LETTER FROM THE BOARD

by the relevant share certificates must be lodged with the Company’s Hong Kong branch share registrar and transfer office, Tricor Investor Services Limited at Level 22, Hopewell Centre, 183 Queen’s Road East, Hong Kong, not later than 4:30 p.m. on Friday, 29 September 2017.

2017 AGM

The notice convening the 2017 AGM is set out on pages 20 to 25 of this circular. At the 2017 AGM, resolutions will be proposed to approve, among others, the grant of the Issue Mandate and the Repurchase Mandate, the extension of the Issue Mandate, the re-election of the Directors and the declaration of final dividend.

For determining the Shareholders’ entitlement to attend and vote at the 2017 AGM, the register of members of the Company will be closed from Tuesday, 19 September 2017 to Friday, 22 September 2017 (both dates inclusive), during which period no transfer of Shares will be effected. In order to qualify for attending and voting at the 2017 AGM, all transfer documents, accompanied by the relevant share certificates, must be lodged with the Company’s Hong Kong branch share registrar and transfer office, Tricor Investor Services Limited at Level 22, Hopewell Centre, 183 Queen’s Road East, Hong Kong, for registration not later than 4:30 p.m. on Monday, 18 September 2017.

FORM OF PROXY

A form of proxy for use in connection with the 2017 AGM is enclosed with this circular and such form of proxy is also published on the respective websites of the Stock Exchange (www.hkexnews.hk) and the Company (www.ibi.com.hk). If you do not intend to attend the 2017 AGM but wish to exercise your right as a Shareholder, you are requested to complete and sign the form of proxy in accordance with the instructions printed thereon and return the same to the Company’s branch share registrar and transfer office in Hong Kong, Tricor Investor Services Limited located at Level 22, Hopewell Centre, 183 Queen’s Road East, Hong Kong, together with a power of attorney or other authority, if any, under which it is signed or a notarially certified copy of that power of attorney or authority, not later than 48 hours before the time appointed for holding the 2017 AGM or the adjournment thereof. Completion and return of the form of proxy will not preclude any Shareholder from attending and voting in person at the 2017 AGM or the adjournment thereof should he/she/it so wishes and in such event, the form of proxy shall be deemed to be revoked.

VOTING BY POLL

Pursuant to Rule 13.39(4) of the Listing Rules and Article 72 of the Articles of Association, any vote of the Shareholders at a general meeting must be taken by poll except where the chairman, in good faith, decides to allow a resolution which relates purely to a procedural or administrative matter to be voted on by a show of hands. Therefore, all resolutions proposed at the 2017 AGM will be voted by poll and the Company will announce the results of the poll in the manner prescribed under Rule 13.39(5) of the Listing Rules.

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LETTER FROM THE BOARD

On a poll, every Shareholder present in person or by proxy or, in the case of a Shareholder being a corporation, by its duly authorised representative, shall have one vote for every fully paid Share of which he/she/it is the holder. A Shareholder entitled to more than one vote needs not use all his/her/its votes or cast all such votes in the same way.

To the best of the Directors’ knowledge, information and belief, having made all reasonable enquiries, no Shareholder is required to abstain from voting on the resolutions to be proposed at the 2017 AGM.

RESPONSIBILITY STATEMENT

This circular, for which the Directors collectively and individually accept full responsibility, includes particulars given in compliance with the Listing Rules 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 in this circular 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 circular misleading.

RECOMMENDATION

The Directors believe that the proposals for the grant of the Issue Mandate and the Repurchase Mandate, the extension of the Issue Mandate, the re-election of the Directors and the declaration of final dividend as set out in the notice convening the 2017 AGM are in the interests of the Company and the Shareholders as a whole. Therefore, the Directors recommend the Shareholders voting in favour of the relevant resolutions to be proposed at the 2017 AGM as set out in the notice convening the 2017 AGM on pages 20 to 25 of this circular.

Yours faithfully, By order of the Board IBI Group Holdings Limited Neil David Howard Chairman

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PARTICULARS OF DIRECTORS PROPOSED FOR RE-ELECTION

APPENDIX I

The particulars of the Directors retiring as required by the Articles of Association and the Listing Rules and proposed to be re-elected at the 2017 AGM are set out as follows.

Save as disclosed herein, there is no information to be disclosed pursuant to any of the requirements set out in Rule 13.51(2)(h) to (v) of the Listing Rules in respect of each of the following retiring Directors and there are no other matters that need to be brought to the attention of the Shareholders in respect of each of the following retiring Directors’ re-election.

MR. NEIL DAVID HOWARD

Experience

Mr. Howard, aged 46, was appointed as a Director on 13 April 2016 and redesignated as an executive Director, the chairman of the Board and chief executive officer of the Company on 11 June 2016. Mr. Howard is a director of each of the subsidiaries of the Company. He is the chairman of the Nomination Committee and a member of the Remuneration Committee. He is responsible for corporate strategic planning and overall business development of the Group.

Mr. Howard has been with the Group for over ten years since joining the Group as a director of IBI Limited in November 2006 and a managing director of IBI Macau since August 2007.

Prior to joining the Group in November 2006, Mr. Howard was the regional operations director at a company currently known as Global Beauty International Management Limited (principally engaged in health and lifestyle services) from July 2002 to March 2005 where he was primarily responsible for upgrading the company’s portfolio of treatment centres throughout the Asia region.

Mr. Howard graduated from University of the West of England, Bristol in the United Kingdom with a bachelor’s degree of science in quantity surveying in July 1993. Mr. Howard then completed a course in advanced insolvency law and practice 1 from The University of Southern Queensland in Australia in July 2000. He also obtained a diploma in insolvency from the Hong Kong Society of Accountants (currently known as Hong Kong Institute of Certified Public Accountants) in Hong Kong in November 2001.

Mr. Howard was a director of Golden Port Asia Limited, a company incorporated in Hong Kong and dissolved by voluntary deregistration (but not by member’s voluntary winding-up) on 4 July 2014 pursuant to section 291AA of the Predecessor Companies Ordinance. Mr. Howard confirms that such company had been inactive and was solvent at the time of dissolution. Mr. Howard further confirms that there is no fraudulent act or misfeasance on his part leading to the deregistration of such company and he is not aware of any actual or potential claim has been or will be made against him as a result of the deregistration of such company.

Save as disclosed above, Mr. Howard (i) does not hold any other position within the Group; and (ii) has not held any directorship in any public listed company in the past three years.

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PARTICULARS OF DIRECTORS PROPOSED FOR RE-ELECTION

APPENDIX I

Length of service and emoluments

Mr. Howard has entered into a service contract with the Company for a fixed term of three years commencing from the Listing Date. He is subject to retirement by rotation and reelection at the 2017 AGM in accordance with the Articles of Association. He is presently entitled to a Director’s fee of HK$240,000 per annum and annual salaries, allowances and other benefits. His emolument was determined by the Board by reference to his responsibilities and duties within the Company and may be adjusted upon the recommendation of the Remuneration Committee. For the Year, he received a Director’s fee of approximately HK$112,000, annual salaries, allowances and other benefits of approximately HK$2,184,000, discretionary bonuses of HK$1,000,000 and contribution on defined contribution retirement plans of approximately HK$18,000. The total amount of his emoluments for the Year was approximately HK$3,314,000.

Relationships

Other than the relationship arising from him being an executive Director, chairman of the Board and chief executive officer of the Company, and his interests in the Shares through Brilliant Blue Sky Limited, a company wholly-owned by him, Mr. Howard does not have any relationship with any other Director, senior management, or substantial or controlling Shareholders (as defined under the Listing Rules).

Interest in Shares

As at the Latest Practicable Date, Mr. Howard was interested or deemed to be interested in 401,000,000 Shares, representing approximately 50.13% of the issued share capital of the Company pursuant to Part XV of the SFO.

MR. STEVEN PAUL SMITHERS

Experience

Mr. Smithers, aged 49, was appointed as a Director on 13 April 2016 and redesignated as an executive Director and the chief operations officer on 11 June 2016. Mr. Smithers is a director of each of the subsidiaries of our Company. He is a member of the Remuneration Committee and Nomination Committee. He is responsible for corporate strategic planning, overall business development, management and operations of the Group.

Mr. Smithers has over 22 years of working experience in the construction industry in Hong Kong. Prior to joining the Group in May 2006 as a senior project manager, he was last employed as a compliance and co-ordination manager at group companies under Paul Y. group (which was principally engaged in construction services) from March 1996 to April 2006 and he was primarily responsible for managing the tender and pre-qualification process and general management activities. From October 1994 to February 1996, Mr. Smithers worked as a quality assurance consultant at Construction Quality Management Ltd. (principally engaged in ISO accredited management systems), where he was seconded to Paul Y. group.

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PARTICULARS OF DIRECTORS PROPOSED FOR RE-ELECTION

APPENDIX I

Mr. Smithers graduated from Brighton Polytechnic (currently known as the University of Brighton) in the United Kingdom with a bachelor’s degree of science in building engineering and management in July 1991. Mr. Smithers then obtained a master’s degree of business administration from University of Leicester in the United Kingdom in July 1998. Mr. Smithers was admitted as a member and a fellow of the Chartered Institute of Building in the United Kingdom in August 1997 and June 2014, respectively. He was also admitted as a member of the Institute of Management in the United Kingdom in May 1998.

Mr. Smithers was a director of Design Up Limited, a company incorporated in Hong Kong and dissolved by voluntary deregistration (but not by member’s voluntary winding-up) on 29 May 2015 pursuant to section 751 of the Companies Ordinance. Mr. Smithers is also a director of First Concept Corporation Limited, a company incorporated in Hong Kong, which was dissolved by voluntary deregistration (but not by member’s voluntary winding-up) on 13 January 2017 pursuant to section 751 of the Companies Ordinance. Mr. Smithers confirms that such companies had been inactive and was solvent at the time of dissolution or commencement of voluntary deregistration. Mr. Smithers further confirms that there is no fraudulent act or misfeasance on his part leading to the deregistration of such companies and he is not aware of any actual or potential claim has been or will be made against him as a result of the deregistration of such companies.

Save as disclosed above, Mr. Smithers (i) does not hold any other position within the Group; and (ii) has not held any directorship in any public listed company in the past three years.

Length of service and emoluments

Mr. Smithers has entered into a service contract with the Company for a fixed term of three years commencing from the Listing Date. He is subject to retirement by rotation and reelection at the 2017 AGM in accordance to the Articles of Association. He is presently entitled to a Director’s fee of HK$240,000 per annum and annual salaries, allowances and other benefits. His emolument was determined by the Board by reference to his responsibilities and duties within the Company and may be adjusted upon the recommendation of the Remuneration Committee. For the Year, he received a Director’s fee of approximately HK$112,000, annual salaries, allowances and other benefits of approximately HK$2,198,000, discretionary bonuses of HK$1,000,000 and contribution on defined contribution retirement plans of approximately HK$18,000. The total amount of his emoluments for the Year was approximately HK$3,328,000.

Relationships

Other than the relationship arising from him being an executive Director and his interests in the Shares through BreadnButter Holdings Limited, a company wholly-owned by him, Mr. Smithers does not have any relationship with any other Director, senior management, or substantial or controlling Shareholders (as defined under the Listing Rules).

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PARTICULARS OF DIRECTORS PROPOSED FOR RE-ELECTION

APPENDIX I

Interest in Shares

As at the Latest Practicable Date, Mr. Smithers was interested or deemed to be interested in 160,008,000 Shares, representing approximately 20.00% of the issued share capital of the Company pursuant to Part XV of the SFO.

MR. RICHARD GARETH WILLIAMS

Experience

Mr. Williams, aged 69, was appointed as an independent non-executive Director on 20 September 2016. He is responsible for providing independent advice to the Board. He is a member of each of the Audit Committee, Remuneration Committee and Nomination Committee. Mr. Williams has over 40 years of experience in the areas of property valuation and estate agency. Mr. Williams is the principal of Gareth Williams & Associates (principally engaged in property valuation and estate agency) where he is primarily responsible for specialist property valuations and acquisitions and disposal of investment properties since January 2006. Additionally, he is currently a non-executive director of Wheelock Properties (Hong Kong) Limited (principally engaged in property services in Hong Kong).

Mr. Williams was a property investment director of Wheelock Properties (Hong Kong) Limited from October 2004 to July 2006 where he was responsible for property services. From June 2002 to September 2004, he worked as the chief executive in the Hong Kong office of Knight Frank Asia Pacific Pte. Ltd. (principally engaged in providing property related services) where he was responsible for the overall management. From May 1979 to June 2002, Mr. Williams worked for Vigers Hong Kong Limited (principally engaged in valuation, property consultancy and estate agency) with his last position as the chairman and chief executive officer where he was primarily responsible for provision of property valuation and estate agency services. From May 1976 to April 1979, Mr. Williams served as rating and valuation surveyor at the Rating and Valuation Department of the Hong Kong Government.

Mr. Williams was certified as a fellow of the Royal Institution of Chartered Surveyors in the United Kingdom and was elected as a fellow of the Hong Kong Institute of Surveyors in June 1984 and December 1984, respectively. Additionally, he was also admitted as a member of the Chartered Institute of Arbitrators and a practising member of The Academy of Experts, both based in the United Kingdom, in December 1999 and April 2009, respectively.

Mr. Williams was a director of Brovent Limited, a company incorporated in Hong Kong and dissolved by voluntary deregistration (but not by member’s voluntary winding-up) on 1 April 2016 pursuant to section 751 of the Companies Ordinance. Mr. Williams confirms that such company ceased business and was solvent at the time of dissolution. Mr. Williams further confirms that there is no fraudulent act or misfeasance on his part leading to the deregistration of such company and he is not aware of any actual or potential claim has been or will be made against him as a result of the deregistration of such company.

Save as disclosed above, Mr. Williams (i) does not hold any other position within the Group; and (ii) has not held any directorship in any public listed company in the past three years.

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PARTICULARS OF DIRECTORS PROPOSED FOR RE-ELECTION

APPENDIX I

Length of service and emoluments

Mr. Williams has entered into a letter of appointment with the Company for a fixed term of three years commencing from the Listing Date. He is subject to retirement by rotation and re-election at the 2017 AGM in accordance to the Articles of Association. Mr. Williams’ annual remuneration is fixed at the rate of HK$240,000 per annum which is determined by the Company with reference to his duties and level of responsibilities and the remuneration policy of the Company. The total amount of his emoluments for the Year was approximately HK$112,000.

Relationships

Other than the relationship arising from him being an independent non-executive Director, Mr. Williams does not have any relationship with any other Director, senior management, substantial or controlling Shareholders (as defined in the Listing Rules).

Interest in Shares

As at the Latest Practicable Date, Mr. Williams did not have any interests in the securities of the Company within the meaning of Part XV of the SFO.

MR. ROBERT PETER ANDREWS

Experience

Mr. Andrews, aged 59, was appointed as an independent non-executive Director on 20 September 2016. He is responsible for providing independent advice to the Board. He is the chairman of the Remuneration Committee, and a member of the Nomination Committee and Audit Committee. Mr. Andrews has over 27 years of experience in the construction industry. Mr. Andrews is the director of Andrews Commercial Services Limited (principally engaged in consultancy services in the construction industry) since April 2013.

Mr. Andrews worked at Leighton Contractors (Asia) Limited (principally engaged in construction) from January 1990 to March 2013, with his last position as the divisional commercial manager of Hong Kong and Macau, where he was primarily responsible for overseeing contractual and commercial aspect of the business unit.

Mr. Andrews obtained his diploma in quantity surveying from Cauldon College (currently known as Stoke On Trent College) in the United Kingdom in June 1979. He then obtained a certificate of commercial mediation conducted by The Accord Group Australia in association with the Mediation Council of the Hong Kong International Arbitration Centre in Hong Kong in December 1998.

Mr. Andrews was a director of Knighton Investments Limited, a company incorporated in Hong Kong and dissolved by striking off (but not by member’s voluntary winding-up) on 11 April 2003 pursuant to section 291 of the Predecessor Companies Ordinance. Mr. Andrews confirms that such company had been inactive and was solvent at the time of dissolution. Mr.

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PARTICULARS OF DIRECTORS PROPOSED FOR RE-ELECTION

APPENDIX I

Andrews further confirms that there is no fraudulent act or misfeasance on his part leading to the striking off of such company and he is not aware of any actual or potential claim has been or will be made against him as a result of the striking off of such company.

Save as disclosed above, Mr. Andrews (i) does not hold any other position within the Group; and (ii) has not held any directorship in any public listed company in the past three years.

Length of service and emoluments

Mr. Andrews has entered into a letter of appointment with the Company for a fixed term of three years commencing from the Listing Date. He is subject to retirement by rotation and re-election at the 2017 AGM in accordance with the Articles of Association. Mr. Andrews’ annual remuneration is fixed at the rate of HK$240,000 per annum, which is determined by the Company with reference to his duties and level of responsibilities and the remuneration policy of the Company. The total amount of his emoluments for the Year was approximately HK$112,000.

Relationships

Other than the relationship arising from him being an independent non-executive Director, Mr. Andrews does not have any relationship with any other Director, senior management, substantial or controlling Shareholders (as defined in the Listing Rules).

Interest in Shares

As at the Latest Practicable Date, Mr. Andrews did not have any interests in the securities of the Company within the meaning of Part XV of the SFO.

MR. LAP SHEK EDDIE WONG (王立石)

Experience

Mr. Wong, aged 51, was appointed as an independent non-executive Director on 20 September 2016. He is responsible for providing independent advice to the Board. He is the chairman of the Audit Committee, and a member of the Remuneration Committee and Nomination Committee. Mr. Wong has been working at Young Brothers Aviation Ltd. (principally engaged in aviation investments) as their chief financial officer since November 2000.

Mr. Wong has over 23 years of working experience in the fields of finance and accounting. Mr. Wong acted as an independent non-executive director for Ming Hing Waterworks Holdings Limited (stock code: 402) (currently known as Peace Map Holding Ltd.) (which was principally engaged in waterworks engineering) from October 2008 to September 2010. He worked as a group accounting manager at Tianjin Development Holdings Limited (stock code: 882), principally engaged in utilities operations, infrastructure operations and other investments, from February 1998 to November 2000.

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PARTICULARS OF DIRECTORS PROPOSED FOR RE-ELECTION

APPENDIX I

Mr. Wong was an accountant at Firstone International Holdings Limited (stock code: 530) (currently known as Goldin Financial Holdings Limited), which was principally engaged in winery and wine related business, from October 1995 to February 1998. He worked as a staff accountant III at Ernst & Young from April 1994 to October 1995.

Mr. Wong graduated from Curtin University of Technology in Australia with a bachelor’s degree of business in accounting in August 1992. He then obtained a second bachelor’s degree in Chinese law jointly offered by Tsinghua University in the PRC and Hong Kong University School of Professional and Continuing Education in Hong Kong in July 2005. Mr. Wong is an associate of the Hong Kong Society of Accountants (currently known as Hong Kong Institute of Certified Public Accountants) certified in June 1997, a certified practising accountant of the Australian Society of Certified Practising Accountants admitted in December 1995, and a certified tax adviser of The Taxation Institute of Hong Kong registered in January 2015.

Mr. Wong was a director of Bondway Investment Limited, a company incorporated in Hong Kong and dissolved by voluntary deregistration (but not by member’s voluntary windingup) on 27 July 2001 pursuant to section 291AA of the Predecessor Companies Ordinance. Mr. Wong confirms that such company ceased business and was solvent at the time of dissolution. Mr. Wong further confirms that there is no fraudulent act or misfeasance on his part leading to the deregistration of such company and he is not aware of any actual or potential claim has been or will be made against him as a result of the deregistration of such company.

Save as disclosed above, Mr. Wong (i) does not hold any other position within the Group; and (ii) has not held any directorship in any public listed company in the past three years.

Length of service and emoluments

Mr. Wong has entered into a letter of appointment with the Company for a fixed term of three years commencing from the Listing Date. He is subject to retirement by rotation and reelection at the 2017 AGM in accordance with the Articles of Association. Mr. Wong annual remuneration is fixed at the rate of HK$240,000 per annum, which is determined by the Company with reference to his duties and level of responsibilities and the remuneration policy of the Company. The total amount of his emoluments for the Year was approximately HK$112,000.

Relationships

Other than the relationship arising from him being an independent non-executive Director, Mr. Wong does not have any relationship with any other Director, senior management, substantial or controlling Shareholders (as defined in the Listing Rules).

Interest in Shares

As at the Latest Practicable Date, Mr. Wong did not have any interests in the securities of the Company within the meaning of Part XV of the SFO.

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EXPLANATORY STATEMENT

APPENDIX II

This appendix serves as an explanatory statement, as required by the Listing Rules, to provide the requisite information to you for your consideration of the proposed grant of the Repurchase Mandate.

1. REPURCHASE OF SECURITIES FROM CONNECTED PARTIES

Under the Listing Rules, a company is prohibited from knowingly purchasing securities on the Stock Exchange from a ‘‘core connected person’’, that is, the directors, chief executive or substantial shareholder of the Company or any of its subsidiaries or their respective close associates and a core connected person is prohibited from knowingly selling his/her/its securities to the Company.

As at the Latest Practicable Date, to the best knowledge of the Directors, having made all reasonable enquiries, no core connected person of the Company has notified the Company that he/she/it has a present intention to sell any Shares to the Company nor has any such core connected person undertaken not to sell any of the Shares held by him/her/it to the Company in the event that the Repurchase Mandate is approved by the Shareholders.

2. SHARE CAPITAL

As at the Latest Practicable Date, there were a total of 800,000,000 Shares in issue. Subject to the passing of the ordinary resolution for the approval of the Repurchase Mandate and assuming that no further Shares are issued and no Shares are repurchased and cancelled after the Latest Practicable Date and up to the date of the 2017 AGM, the Directors would be authorised to repurchase up to a maximum of 80,000,000 Shares, representing 10% of the issued Shares as at the date of the 2017 AGM up to the earliest of (i) the conclusion of the next annual general meeting; (ii) the expiration of the period within which the next annual general meeting is required to be held by the Articles of Association or any applicable laws of the Cayman Islands; or (iii) the revocation or variation of the Repurchase Mandate by an ordinary resolution of the Shareholders at general meeting of the Company.

3. REASONS FOR REPURCHASES

The Directors have no present intention to repurchase any Shares but consider that the Repurchase Mandate is in the interests of the Company and the Shareholders as a whole. An exercise of the Repurchase Mandate may, depending on market conditions and funding arrangements at the time, lead to an enhancement of the net assets value per Share and/or earnings per Share and will only be made when the Directors believe that a repurchase will benefit the Company and the Shareholders as a whole.

4. FUNDING OF REPURCHASES

Pursuant to the Repurchase Mandate, repurchases would be funded entirely from the Company’s available cash flow or working capital facilities which will be funds legally available under the laws of the Cayman Islands, the memorandum of association of the Company, the Articles of Association and the Listing Rules for such purpose.

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EXPLANATORY STATEMENT

APPENDIX II

5. IMPACT ON WORKING CAPITAL OR GEARING LEVEL

An exercise of the Repurchase Mandate in full would have a material adverse impact on the working capital or gearing position of the Company when compared with that as at 31 March 2017, being the date of the Company’s latest published audited consolidated financial statements. The Directors do not, however, intend to make any repurchase in circumstances that would have a material adverse impact on the working capital or gearing position of the Company.

6. SHARE PRICES

The highest and lowest market prices at which the Shares had been traded on the Stock Exchange from the Listing Date and up to the Latest Practicable Date were as follows:

	Price per Share	(HK$)
Month	Highest	Lowest
2016
October (since 14 October 2016, being the Listing Date)	0.560	0.360
November	0.420	0.365
December	0.465	0.375
2017
January	0.435	0.385
February	0.410	0.375
March	0.430	0.380
April	0.445	0.375
May	0.400	0.360
June	0.380	0.300
July (up to and including the Latest Practicable Date)	0.380	0.340

7. DIRECTORS AND THEIR CLOSE ASSOCIATES

None of the Directors or, to the best of their knowledge, having made all reasonable enquiries, their close associates, have any present intention to sell to the Company or its subsidiaries any of the Shares if the Repurchase Mandate is approved at the 2017 AGM.

8. UNDERTAKING OF THE DIRECTORS

The Directors have undertaken to the Stock Exchange that so far as the same may be applicable, they will exercise the powers of the Company to make repurchases pursuant to the Repurchase Mandate in accordance with the Listing Rules and the applicable laws of the Cayman Islands.

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EXPLANATORY STATEMENT

APPENDIX II

9. EFFECT OF TAKEOVERS CODE

If a Shareholder’s proportionate interest in the voting rights of the Company increases as a result of the Company exercising its powers to buy-back Shares pursuant to the Repurchase Mandate, such an increase will be treated as an acquisition for the purpose of Rule 32 of the Takeovers Code. As a result, a Shareholder or a group of Shareholders acting in concert (as defined in the Takeovers Code) could obtain or consolidate control of the Company and become(s) obliged to make a Mandatory General Offer. According to the register of interests and short positions in Shares maintained by the Company under Section 336 of the SFO, as at the Latest Practicable Date, the following Shareholders were interested or deemed to be interested in 5% or more of the issued Shares:

					Approximate
					percentage of
					shareholding
					if Repurchase
				Approximate	Mandate
		Number of		percentage of	is exercised
Name of Shareholders	Capacity/Nature of interest	issued Shares held	Position held	shareholding	in full
Mr. Neil David Howard1	Interest in controlled	396,376,000 Shares	Long position	49.55%	55.05%
	corporation
	Beneficial interest	4,624,000 Shares	Long position	0.58%	0.64%
Mr. Steven Paul Smithers2	Interest in controlled	160,008,000 Shares	Long position	20.00%	22.22%
	corporation
Brilliant Blue Sky Limited1	Beneficial interest	396,376,000 Shares	Long position	49.55%	55.05%
Ms. Shuen Jolie Chung	Interest of spouse	401,000,000 Shares	Long position	50.13%	55.69%
Howard3
Breadnbutter Holdings	Beneficial interest	160,008,000 Shares	Long position	20.00%	22.22%
Limited2
Ms. Yuk Fan Joe Lam4	Interest of spouse	160,008,000 Shares	Long position	20.00%	22.22%

Notes:

• (1) Brilliant Blue Sky Limited, wholly-owned by Mr. Neil David Howard, held 396,376,000 Shares. Mr. Neil David Howard was deemed to be interested in the 396,376,000 Shares pursuant to the SFO. Mr. Neil David Howard also held beneficial interest in 4,624,000 Shares. In total, Mr. Neil David Howard held interest in 401,000,000 Shares.

• (2) Breadnbutter Holdings Limited, wholly-owned by Mr. Steven Paul Smithers, held 160,008,000 Shares. Mr. Steven Paul Smithers was deemed to be interested in the 160,008,000 Shares pursuant to the SFO.

• (3) Ms. Shuen Jolie Chung Howard, the spouse of Mr. Neil David Howard, was deemed to be interested in the 401,000,000 Shares held by Mr. Neil David Howard, through his beneficial interest and his interest in the controlled corporation, Brilliant Blue Sky Limited, pursuant to the SFO.

• (4) Ms. Yuk Fan Joe Lam, the spouse of Mr. Steven Paul Smithers, was deemed to be interested in the 160,008,000 Shares held by Mr. Steven Paul Smithers, through his controlled corporation, Breadnbutter Holdings Limited, pursuant to the SFO.

– 17 –

EXPLANATORY STATEMENT

APPENDIX II

Pursuant to the Takeovers Code, the requirement to make a Mandatory General Offer is triggered when any person holds not less than 30%, but not more than 50%, of the voting rights of a company and that person acquires additional voting rights and such acquisition has the effect of increasing that person’s holding of voting rights of the company by more than 2% from the lowest percentage holding of that person in the 12 month period ending on and inclusive of the date of the relevant acquisition, and such rule applies to any immediately preceding 12 month period if at any time during such period a person, or group of persons acting in concert, holds 50% or less of the voting rights.

To the best knowledge and belief of the Directors:

• (i) as at the Listing Date, each of Brilliant Blue Sky Limited, Mr. Neil David Howard and Ms. Shuen Jolie Chung Howard were interested or deemed to be interested in an aggregate of 388,800,000 Shares, representing approximately 48.60% of the then issued share capital of the Company; and

• (ii) as at the Latest Practicable Date, (a) Brilliant Blue Sky Limited was interested in 396,376,000 Shares, representing approximately 49.55% of the number of the issued share capital of the Company; and (b) Mr. Neil David Howard and Ms. Shuen Jolie Chung Howard were interested or deemed to be interested in an aggregate of 401,000,000 Shares, representing approximately 50.13% of the issued share capital of the Company.

In the event that the Directors exercise in full the Repurchase Mandate, Brilliant Blue Sky Limited’s interest in the Company will be increased to approximately 55.05% of the issued share capital of the Company, and Mr. Neil David Howard and Ms. Shuen Jolie Chung Howard’s interests in the Company will be increased to approximately 55.69% of the issued share capital of the Company. To the best knowledge and belief of the Directors, such increase in the interest of the Company will give rise to an obligation to make a Mandatory General Offer.

To the best knowledge and belief of the Directors:

• (i) as at the Listing Date, each of Breadnbutter Holdings Limited, Mr. Steven Paul Smithers and Ms. Yuk Fan Joe Lam were interested or deemed to be interested in an aggregate of 151,200,000 Shares, representing approximately 18.90% of the then issued share capital of the Company; and

• (ii) as at the Latest Practicable Date, each of Breadnbutter Holdings Limited, Mr. Steven Paul Smithers and Ms. Yuk Fan Joe Lam were interested or deemed to be interested in 160,008,000 Shares, representing approximately 20.00% of the issued share capital of the Company.

In the event that the Directors exercise in full the Repurchase Mandate, each of Breadnbutter Holdings Limited, Mr. Steven Paul Smithers and Ms. Yuk Fan Joe Lam’s interest in the Company will be increased to approximately 22.22% of the issued share capital of the Company. To the best knowledge and belief of the Directors, such increase in the interest of the Company will not give rise to an obligation to make a Mandatory General Offer.

– 18 –

EXPLANATORY STATEMENT

APPENDIX II

The Directors have no present intention to repurchase Shares to an extent that will trigger any of the obligations under the Takeovers Code. Save as aforesaid, the Directors are not aware of any consequence which may arise under the Takeovers Code as a consequence of any repurchase of Shares under the Repurchase Mandate.

The Listing Rules prohibit a company from making repurchase on the Stock Exchange if the result of the repurchase would be that less than 25% (or such other prescribed minimum percentage as determined by the Stock Exchange) of the issued share capital would be in public hands. The Directors do not propose to repurchase Shares which would result in less than the prescribed minimum percentage of Shares in public hands.

10. SHARE REPURCHASE MADE BY THE COMPANY

The Company did not redeem any of its Shares listed and traded on the Main Board of the Stock Exchange nor did the Company or any of its subsidiaries purchase or sell any of such Shares during the six months immediately preceding the Latest Practicable Date.

– 19 –

NOTICE OF 2017 AGM

==> picture [65 x 65] intentionally omitted <==

IBI Group Holdings Limited

(incorporated in the Cayman Islands with limited liability)

(Stock Code: 1547)

NOTICE IS HEREBY GIVEN THAT the annual general meeting (the ‘‘2017 AGM’’) of IBI Group Holdings Limited (the ‘‘Company’’) will be held at 2401–02, 24/F., Admiralty Centre 1, 18 Harcourt Road, Hong Kong on Friday, 22 September 2017 at 10 a.m. for the following purposes:

As ordinary business,

1. To receive and adopt the audited consolidated financial statements and the reports of the directors (the ‘‘Directors’’) and independent auditor of the Company for the year ended 31 March 2017.

2. To re-elect the following retiring Directors:

3. (i) Mr. Neil David Howard as an executive Director;

4. (ii) Mr. Steven Paul Smithers as an executive Director;

5. (iii) Mr. Richard Gareth Williams as an independent non-executive Director;

6. (iv) Mr. Robert Peter Andrews as an independent non-executive Director; and

7. (v) Mr. Lap Shek Eddie Wong as an independent non-executive Director.

8. To authorise the board of Directors (the ‘‘Board’’) to fix the Directors’ remuneration for the year ending 31 March 2018.

9. To declare a final dividend of HK1.0 cents per share of the Company for the year ended 31 March 2017.

10. To re-appoint BDO Limited as the independent auditor of the Company for the ensuing year and authorise the Board to fix its remuneration.

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NOTICE OF 2017 AGM

1. To consider and, if thought fit, pass with or without amendments the following resolution as an ordinary resolution:

‘‘THAT:

• (a) subject to paragraph (c) of this resolution below, pursuant to the Rules (the ‘‘Listing Rules’’) Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the ‘‘Stock Exchange’’), the exercise by the Directors during the Relevant Period (as defined below) of all the powers of the Company to allot, issue and deal with shares of the Company (the ‘‘Shares’’) or securities convertible into or exchange for Shares, or options or warrants, for similar rights to subscribe for any Shares and to make or grant offers, agreements and options, including warrants to subscribe for Shares, which might require the exercise of such powers be and the same is hereby generally and unconditionally approved;

• (b) the approval in paragraph (a) of this resolution above shall authorise the Directors during the Relevant Period to make or grant offers, agreements and options which might require the exercise of such powers after the end of the Relevant Period;

• (c) the aggregate number of Shares allotted or agreed conditionally or unconditionally to be allotted (whether pursuant to options or otherwise) by the Directors pursuant to the approval in paragraph (a) above, otherwise than pursuant to (i) a Rights Issue (as defined below); or (ii) the exercise of any options granted under the share option scheme of the Company; or (iii) any scrip dividend or similar arrangements providing for the allotment and issue of Shares in lieu of the whole or part of a dividend on Shares in accordance with the articles of association of the Company in force from time to time (the ‘‘Articles of Association’’); or (iv) any issue of Shares upon the exercise of rights of subscription, conversion or exchange under the terms of any warrants of the Company or any securities which are convertible into or exchangeable for Shares, shall not exceed the aggregate of 20% of the aggregate number of the issued Shares as at the date of the passing of this resolution and the authority pursuant to paragraph (a) of this resolution above shall be limited accordingly; and

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NOTICE OF 2017 AGM

• (d) for the purposes of this resolution:

‘‘Relevant Period’’ means the period from the date of the passing of this resolution until whichever is the earliest of:

• (i) the conclusion of the next annual general meeting of the Company;

• (ii) the expiration of the period within which the next annual general meeting of the Company is required to be held by the Articles of Association, the Companies Law, Cap. 22 (Law 3 of 1961, as consolidated or revised) of the Cayman Islands or any other applicable laws of the Cayman Islands; or

• (iii) the passing of an ordinary resolution by the shareholders of the Company in general meeting revoking or varying the authority given to the Directors by this resolution.

‘‘Rights Issue’’ means an offer of Shares, or offer or issue of warrants, options or other securities giving the rights to subscribe for Shares open for a period fixed by the Directors to holders of Shares on the register on a fixed record date in proportion to their then holdings of such Shares (subject to such exclusion or other arrangements as the Directors may deem necessary or expedient in relation to fractional entitlements, or having regard to any restrictions or obligations under the laws of, or the requirements of, or the expense or delay which may be involved in determining the existence or extent of any restrictions or obligations under the laws of, or the requirements of, any jurisdiction applicable to the Company or any recognised regulatory body or any stock exchange applicable to the Company).’’

1. To consider and, if thought fit, pass with or without amendments the following resolution as an ordinary resolution:

‘‘THAT:

• (a) subject to paragraph (b) of this resolution below, the exercise by the Directors during the Relevant Period (as defined below) of all the powers of the Company to repurchase the Shares on the Stock Exchange of or any other stock exchange on which the Shares may be listed and recognised by the Securities and Futures Commission of Hong Kong (the ‘‘Commission’’) and the Stock Exchange under the Hong Kong Code on Share Buy-backs issued by the Commission for such purpose, and otherwise in accordance with the rules and regulations of the Commission, the Stock Exchange, the Companies Law, Cap. 22 (Law 3 of 1961, as consolidated or revised) of the Cayman Islands and all other applicable laws in this regard, be and the same is hereby generally and unconditionally approved;

– 22 –

NOTICE OF 2017 AGM

• (b) the aggregate number of the Shares which may be repurchased by the Company pursuant to the approval in paragraph (a) of this resolution above during the Relevant Period (as defined below) shall not exceed 10% of the aggregate number of the issued Shares as at the date of the passing of this resolution and the authority pursuant to paragraph (a) of this resolution shall be limited accordingly; and

• (c) for the purpose of this resolution:

‘‘Relevant Period’’ means the period from the date of the passing of this resolution until whichever is the earliest of:

• (i) the conclusion of the next annual general meeting of the Company;

• (ii) the expiration of the period within which the next annual general meeting of the Company is required to be held by the Articles of Association of the Company, the Companies Law, Cap. 22 (Law 3 of 1961, as consolidated or revised) of the Cayman Islands or any other applicable laws of the Cayman Islands; or

• (iii) the passing of an ordinary resolution by the shareholders of the Company in general meeting revoking or varying the authority given to the Directors by this resolution.’’

• ‘‘THAT subject to the passing of resolution nos. 6 and 7 set out in the notice convening the annual general meeting of the Company (the ‘‘Notice’’), the authority of the Directors of the Company pursuant to resolution no. 6 set out in the Notice be and the same is hereby approved to extend to cover such amount representing the aggregate number of the issued Shares repurchased pursuant to the authority granted pursuant to resolution no. 7 set out in the Notice provided that such number shall not exceed 10% of the aggregate number of the issued Shares as at the date of the passing of this resolution.’’

By order of the board of IBI Group Holdings Limited Neil David Howard Chairman

Hong Kong, 28 July 2017

– 23 –

NOTICE OF 2017 AGM

Registered office: 89 Nexus Way, Camana Bay Grand Cayman KY1-9007 Cayman Islands

Principal place of business in Hong Kong: 3/F, Bangkok Bank Building 18 Bonham Strand West Hong Kong

As at the date of this Notice, the Directors are:

Executive Directors:

Mr. Neil David Howard (Chairman and Chief Executive Officer) Mr. Steven Paul Smithers

Independent non-executive Directors: Mr. Richard Gareth Williams Mr. Robert Peter Andrews Mr. Lap Shek Eddie Wong

Notes:

1. Any member of the Company (the ‘‘Member’’) entitled to attend and vote at the 2017 AGM convened by this Notice or its adjourned meeting (as the case may be) is entitled to appoint one (or, if he/she/it holds two or more Shares in the Company, more than one) proxy to attend and, on a poll, vote on his/her/its behalf subject to the provisions of the Articles of Association. A proxy need not be a Member but must be present in person at the 2017 AGM to represent the Member. If more than one proxy is so appointed, the appointment shall specify the number and class of such Shares in respect of which such proxy is so appointed.

2. In order to be valid, the duly completed and signed form of proxy must be deposited together with a power of attorney or other authority, if any, under which it is signed or a notarially certified copy of that power or authority, at the office of the Company’s branch share registrar and transfer office in Hong Kong, Tricor Investor Services Limited located at Level 22, Hopewell Centre, 183 Queen’s Road East, Hong Kong not later than 48 hours before the time appointed for holding the 2017 AGM or its adjourned meeting. Completion and return of a form of proxy will not preclude a Member from subsequently attending in person and voting at the 2017 AGM or its adjourned meeting should he/she so wish.

3. For determining the Members’ entitlement to attend and vote at the 2017 AGM, the register of Members will be closed from Tuesday, 19 September 2017 to Friday, 22 September 2017 (both dates inclusive), during which period no transfer of Shares will be effected. In order to qualify for attending and voting at the 2017 AGM, all transfer documents, accompanied by the relevant share certificates, must be lodged with the Company’s Hong Kong branch share registrar and transfer office, Tricor Investor Services Limited located at Level 22, Hopewell Centre, 183 Queen’s Road East, Hong Kong for registration not later than 4:30 p.m. on Monday, 18 September 2017.

4. Subject to the approval of the Members at the 2017 AGM, the proposed final dividend will be payable on or about Wednesday, 18 October 2017 to the Members whose names appear on the register of Members of the Company on Friday, 6 October 2017. To ascertain the entitlement of the Members to the proposed final dividend, the register of Members of the Company will be closed from Tuesday, 3 October 2017 to Friday, 6 October 2017, both days inclusive, during which period no transfer of Shares will be registered by the Company. In order to qualify for the proposed final dividend, all duly completed transfer forms accompanied

– 24 –

NOTICE OF 2017 AGM

by the relevant share certificates must be lodged with the Company’s Hong Kong branch share registrar, Tricor Investor Services Limited at Level 22, Hopewell Centre, 183 Queen’s Road East, Hong Kong, not later than 4:30 p.m. on Friday, 29 September 2017.

1. In relation to the proposed resolution no. 2 above, details of the retiring Directors standing for re-election are set out in Appendix I to the circular (the ‘‘Circular’’) of the Company dated 28 July 2017.

2. In relation to the proposed resolution no. 5 above, the Board concurs with the views of the audit committee of the Company and has recommended that BDO Limited be re-appointed independent auditor of the Company.

3. In relation to the proposed resolutions nos. 6 and 8 above, approval is being sought from the Members for the grant to the Directors of a general mandate to authorise the allotment and issue of Shares under the Listing Rules. The Directors have no immediate plans to issue any new Shares.

4. In relation to the proposed resolution no. 7 above, the Directors wish to state that they will exercise the powers conferred thereby to repurchase Shares only in the circumstances which they consider appropriate for the benefit of the Members. An explanatory statement containing the information necessary to enable the Members to make an informed decision to vote on the proposed resolution as required by the Listing Rules is set out in Appendix II to the Circular.

5. In compliance with Rule 13.39(4) of the Listing Rules, voting on all proposed resolutions set out in this Notice will be decided by way of a poll.

6. (a) Subject to paragraph (b) below, if a tropical cyclone warning signal No. 8 or above is expected to be hoisted or a black rainstorm warning signal is expected to be in force at any time between 8:00 a.m. and 5:00 p.m. on the date of the 2017 AGM, the 2017 AGM will be postponed and Members will be informed of the date, time and venue of the postponed 2017 AGM by a supplemental notice posted on the respective websites of the Company and the Stock Exchange.

7. (b) If a tropical cyclone warning signal No. 8 or above or a black rainstorm warning signal is lowered or cancelled three hours or more before the appointed time of the 2017 AGM and where conditions permit, the 2017 AGM will be held as scheduled.

8. (c) The 2017 AGM will be held as scheduled when an amber or red rainstorm warning signal is in force.

9. (d) After considering their own situations, Members should decide on their own whether or not they would attend the 2017 AGM under any bad weather condition and if they do so, they are advised to exercise care and caution.

10. The translation into Chinese language of this Notice is for reference only. In case of any inconsistency, the English version shall prevail.

– 25 –