ICO Group Limited — Capital/Financing Update 2020

May 4, 2020

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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GRANT OF SHARE OPTIONS

This announcement is made pursuant to rule 17.06A of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “ Listing Rules ”).

The board (the “ Board ”) of directors (the “ Directors ”) of AMCO United Holding Limited (the “ Company ”) hereby announces that the Company granted share options (the “ Share Options ”) to the eligible participants (the “ Grantees ”) to subscribe for a total of 186,200,000 ordinary shares of HK$0.01 each (the “ Shares ”) in the capital of the Company on 4 May 2020 pursuant to the share option scheme adopted by the Company on 30 June 2015, subject to the acceptance of the Grantees.

Details of the grant of the Share Options are set out as follows:

Date of grant : 4 May 2020 (the “ Date of Grant ”) Exercise price of the : HK$0.087 per Share, which represents the highest Share Options granted of (i) the closing price of HK$0.084 per Share on the Date of Grant; (ii) the average closing price of HK$0.087 per Share for the five business days immediately preceding the Date of Grant; and (iii) the nominal value of HK$0.01 per Share

* For identification purposes only

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Number of the Share	:	186,200,000 Share Options (each Share Option
Options granted		shall entitle the holder of the Share Option to
		subscribe for one Share)
Closing price of the Shares	:	HK$0.084 per Share
on the Date of Grant
Validity period of the	:	From 4 May 2020 to 3 May 2025 (both days
Share Options		inclusive).

Among the Share Options granted above, a total of 55,860,000 Share Options were granted to the Directors of the Company, details of which are as follows:

		Number of
		Share Options
Name of Grantees	Position/Capacity	granted
Mr. Zhang Hengxin	Executive Director	18,620,000
Mr. Jia Minghui	Executive Director	18,620,000
Mr. Au Yeung Ming Yin Gordon	Independent Non-executive Director	18,620,000

The grant of the Share Options to the above Directors has been approved by the Board (including all the Independent Non-executive Directors) in accordance with rule 17.04(1) of the Listing Rules.

Saved as disclosed above, none of the Grantee is a Director, chief executive or substantial shareholder of the Company, or their respective associates (as defined in the Listing Rules).

By order of the Board AMCO United Holding Limited ZHANG Hengxin Chairman and Managing Director

Hong Kong, 4 May 2020

As at the date of this announcement, Mr. Zhang Hengxin and Mr. Jia Minghui are the Executive Directors; and Mr. Chan Tsz Keung, Mr. Au Yeung Ming Yin Gordon and Mr. Guo Zhenhui are the Independent Non-executive Directors.

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