ICO Group Limited — Capital/Financing Update 2015

Jul 7, 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.

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(Incorporated in Bermuda with limited liability)

(Stock Code : 630)

TERMINATION OF RIGHTS ISSUE AND UNDERWRITING AGREEMENT

Reference is made to the announcement (“ Announcement ”) of AMCO United Holding Limited (“ Company ”, together with its subsidiaries, the “ Group ”) dated 23 June 2015 in relation to the rights issue (“ Rights Issue ”) of 919,458,963 shares of HK$0.01 each in the Company (“ Rights Shares ”, each a “ Rights Share ”) at HK$0.435 per Rights Share on the basis of three Rights Shares for every one share of the Company. Unless the context otherwise requires, capitalised terms used herein shall have the same meanings as ascribed thereto in the Announcement.

TERMINATION OF THE UNDERWRITING AGREEMENT

The Board announces that taking into account (1) the fact the trading prices of the Shares after the signing of the Underwriting Agreement have generally been on a downward trend; (2) the trading prices of the Shares in the morning session on 6 July 2015 reached HK$0.38 per Share, representing a discount of approximately 48.65% to the closing price of HK$0.74 per Share as at 23 June 2015 (being the date of the Underwriting Agreement); and (3) the Underwriter's right to terminate the Underwriting Agreement if, among other factors, it is in the reasonable opinion of the Underwriter that there is any material adverse change in the market conditions making it inexpedient or inadvisable to proceed with the Rights Issue, the Company and the Underwriter have endeavoured to negotiate for a revised

• For identification purposes only

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structure of the Rights Issue with a view to maintaining the attractiveness of the Rights Issue to the Shareholders during the course of the day. However, as the parties have not come to any agreement on the revised structure of the Rights Issue and in light of the current market sentiment, the Company and the Underwriter have mutually agreed to terminate the Underwriting Agreement after trading hours on 6 July 2015 with immediate effect, whereupon the parties’ respective obligations have ceased and terminated.

The Board does not consider that the termination of the Rights Issue would have any material adverse effect on the financial position or the operations of the Group. As a result of such termination, the Company will formulate/revise business plans which were originally proposed to be funded by the Rights Issue.

On behalf of the Board AMCO United Holding Limited Yip Wai Lun, Alvin Chairman and Managing Director

Hong Kong, 6 July 2015

As at the date of this announcement, Mr. Yip Wai Lun, Alvin, Ms. Leung Mei Han, Mr. Cheng Kin Chor and Mr. Leung Kelvin Ming Yuen are the executive Directors; and Mr. Wong Siu Ki, Mr. Chan Ngai Sang Kenny and Mr. Li Kwok Fat are the independent non-executive Directors.

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