ICO Group Limited — Capital/Financing Update 2022

Aug 22, 2022

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.

This announcement is for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for any securities of the Company.

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(Incorporated in Bermuda with limited liability)

(Stock Code : 630)

ADJUSTMENTS TO THE SHARE OPTIONS

Reference is made to the circular (the “ Circular ”) of AMCO United Holding Limited (the “ Company ”) dated 27 July 2022 in relation to the Share Consolidation, and the Company’s announcement dated 18 August 2022 in relation to the poll results of the SGM of the Company held on 18 August 2022. Unless the context otherwise states, terms used in this announcement shall have the same meanings as defined in the Circular.

ADJUSTMENTS TO THE SHARE OPTIONS

As at the effective date of the Share Consolidation, there are 428,000,000 outstanding share options (“ Share Options ”) entitling the holders thereof to subscribe for up to an aggregate of 428,000,000 Existing Shares under the Share Option Scheme. Upon the Share Consolidation becoming effective, the following adjustments will be made to the exercise price of the Share Options and the number of Consolidated Shares falling to be issued upon the exercise of the Share Options in accordance with (i) the terms and conditions of the Share Option Scheme; (ii) Rule 17.03(13) of the Listing Rules and (iii) the Supplementary Guidance on Adjustments to the Exercise Price and Number of Share Options under the Listing Rule Requirements dated 5 September 2005 (the “ Supplementary Guidance ”).

• For identification purposes only

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Exercise PeriodDate of GrantFromTo4 May 20204 May 20203 May 202521 April 202221 April 202220 April 2027	Immediately beforethe Share Consolidationbecoming effectiveExercise priceper ExistingShareNumber ofExistingShares to beissued uponfull exerciseof the ShareOptionsHK$0.087186,200,000HK$0.0746241,800,000	Immediately afterthe Share Consolidationbecoming effectiveExerciseprice perConsolidatedShareNumber ofConsolidatedShares to beissued uponfull exerciseof the ShareOptionsHK$0.43537,240,000HK$0.37348,360,000

The above adjustments in relation to the Share Options will take effect simultaneously with the coming into effect of the Share Consolidation on Monday, 22 August 2022. Save for the above adjustments, all other terms and conditions of the outstanding Share Options remain unchanged.

The independent financial advisor appointed by the Company has confirmed to the Directors in writing that the adjustments made to the exercise prices of the Share Options and the number of Consolidated Shares falling to be issued upon the exercise of the Share Options are in accordance with the terms of the Share Option Scheme, Rule 17.03(13) of the Listing Rules and the Supplementary Guidance.

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

Hong Kong, 22 August 2022

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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