IRC Limited — Share Issue/Capital Change 2013

Jan 18, 2013

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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(Stock Code: 488)

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 of directors (the “ Directors ” and the “ Board ”, respectively) of Lai Sun Development Company Limited (the “ Company ”) announces that the Company has granted, subject to acceptance of the grantees, share options (the “ Options ”) to certain eligible participants (the “ Grantees ”) under the share option scheme adopted by the Company on 22 December 2006, to subscribe for ordinary shares of HK$0.01 each in the share capital of the Company (the “ Shares ”). Brief details of the Options are as follows:

Date of grant	:	18 January 2013
Total number of Shares comprised in the	:	508,194,971 Shares (the “Option Shares”)
Options
Exercise price per Option Share	:	HK$0.335
Closing price of the Shares on the date of	:	HK$0.335 per Share
grant
Validity (exercisable) period of the Options	:	18 January 2013 to 17 January 2023

Among the Options granted above, Options to subscribe for an aggregate of 321,006,291 Shares were granted to the following Directors:

Name	Position in the Company	Number of
		Option Shares
		granted
Dr. Lam Kin Ngok, Peter	Executive Director and Chairman	20,062,893
(“Dr. Lam”)
Mr. Lau Shu Yan, Julius	Executive Director and Chief Executive	100,314,466
(“Mr. Lau”)	Officer
Mr. Lam Hau Yin, Lester	Executive Director	200,628,932
(“Mr. Lam”)

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As at the date of this announcement, Dr. Lam who is also a substantial shareholder of the Company is interested and deemed to be interested in a total of 10,038,773,098 Shares (excluding the 20,062,893 Shares comprised in the above Option granted to him), representing approximately 50.04% of the issued share capital of the Company.

In accordance with Rule 17.04(1) of the Listing Rules, the granting of Options to Dr. Lam, Mr. Lau and Mr. Lam has been approved by all Independent Non-executive Directors of the Company. Further, pursuant to Rule 17.01(4) of the Listing Rules, the granting of Options to each of the above Directors has also been approved by all independent non-executive directors of Lai Sun Garment (International) Limited, the Company’s ultimate holding company.

Save as disclosed above, none of the Grantees is a director, chief executive or substantial shareholder of the Company, or an associate (as defined in Rule 1.01 of the Listing Rules) of any of them.

By Order of the Board Lai Sun Development Company Limited Kwok Siu Man Company Secretary

Hong Kong, 18 January 2013

As at the date of this announcement, the Board comprises the following members:

Executive Directors: Dr. Lam Kin Ngok, Peter (Chairman) and Messrs. Chew Fook Aun (Deputy Chairman), Lau Shu Yan, Julius (Chief Executive Officer) and Lam Hau Yin, Lester;

Non-Executive Directors: Dr. Lam Kin Ming and Madam U Po Chu; and

Independent Non-Executive Messrs. Lam Bing Kwan, Leung Shu Yin, William and Ip Shu Kwan, Stephen. Directors:

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