IRC Limited — Share Issue/Capital Change 2015

Jan 21, 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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(Stock Code: 488)

CHANGE IN BOARD LOT SIZE

The Board announces that the board lot size for trading in the Shares on the Stock Exchange will be changed from 1,000 Shares to 15,000 Shares with effect from 9:00 a.m. on Wednesday, 11 February 2015. The expected timetable for such change in board lot size is set out below.

RHB OSK Securities Hong Kong Limited has been appointed as an agent to provide matching services on a best effect basis to those Shareholders who wish to top up or sell their holdings of odd lots of the Shares during the period from 9:00 a.m. on Wednesday, 11 February 2015 to 4:00 p.m. on Thursday, 5 March 2015, both dates inclusive.

Shareholders may submit their Existing Share Certificates in board lot of 1,000 Shares each to the Share Registrar in exchange for New Share Certificates in board lot of 15,000 Shares each free of charge during office hours (i.e. 9:00 a.m. to 4:30 p.m.) from Wednesday, 28 January 2015 to Monday, 9 March 2015, both dates inclusive. All Existing Share Certificates will continue to be good evidence of legal title to such Shares and continue to be valid for trading, delivery and settlement purposes.

The Board of Lai Sun Development Company Limited (“ Company ”) announces that the board lot size for trading in the Shares on the Stock Exchange will be change from 1,000 Shares to 15,000 Shares with effect from 9:00 a.m. on Wednesday, 11 February 2015.

The Shares are currently traded in board lots of 1,000 Shares and the market value per board lot of the Shares was HK$172.00 (based on the closing price of HK$0.172 per Share as quoted on the Stock Exchange on the date of this announcement). The Board believes that the change in board lot size may facilitate the trading in the Shares and save the transaction and registration costs incurred by the Shareholders and potential investors. Upon the change in board lot size becoming effective, the Shares will be traded in board lots of 15,000 Shares and the estimated market value per board lot of the Shares will be HK$2,580.00 (based on the closing price of HK$0.172 per Share as quoted on the Stock Exchange on the date of this announcement).

The change in board lot size will not result in any change in the relative right of the Shareholders. The Board is of the opinion that the change in board lot size is in the interests of the Company and the Shareholders as a whole.

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ODD LOT ARRANGEMENT

In order to alleviate the difficulties arising from the existence of odd lots of the Shares as a result of the change in board lot size of the Shares, the Company has appointed RHB OSK Securities Hong Kong Limited as an agent to provide matching services on a best effort basis to the Shareholders who wish to top up or sell their holdings of odd lots of the Shares during the period from 9:00 a.m. on Wednesday, 11 February 2015 to 4:00 p.m. on Thursday, 5 March 2015, both dates inclusive. Holders of the Shares in odd lots represented by the Existing Share Certificates for the Shares who wish to take advantage of this facility either to dispose of their odd lots of the Shares or to top up their odd lots to a full new board lot may directly or through their brokers contact Mr. Luke Tsang of RHB OSK Securities Hong Kong Limited at 12/F., World-Wide House, 19 Des Voeux Road Central, Hong Kong (telephone number (852) 2525 1118) during office hours (i.e. 9:30 a.m. to 6:00 p.m.) within such period.

Holders of the Shares in odd lots should note that successful matching of the sale and purchase of odd lots of the Shares is not guaranteed. Shareholders are recommended to consult their professional advisers if they are in doubt about the above facility.

EXCHANGE OF NEW SHARE CERTIFICATES

Shareholders may submit their Existing Share Certificates to the Company’s share registrar, Tricor Tengis Limited (“ Share Registrar ”) at Level 22, Hopewell Centre, 183 Queen’s Road East, Hong Kong, in exchange for the New Share Certificates free of charge during office hours (i.e. 9:00 a.m. to 4:30 p.m.) from Wednesday, 28 January 2015 to Monday, 9 March 2015 (both dates inclusive). Thereafter, Existing Share Certificates will be accepted for exchange only on payment of a fee of HK$2.50 (or such higher amount as may from time to time be specified by the Stock Exchange) for each New Share Certificate issued or each Existing Share Certificate submitted, whichever number of share certificate involved is higher. It is expected that the New Share Certificates will be available for collection from the Share Registrar by the Shareholders within 10 business days after delivery of the Existing Share Certificates to the Share Registrar for exchange purpose. With effect from Wednesday, 11 February 2015, share certificates will be issued in board lots of 15,000 Shares each (except for odd lots or where the Share Registrar is otherwise instructed). All Existing Share Certificates will continue to be good evidence of legal title to such Shares and continue to be valid for trading, delivery and settlement purposes. Save and except for the change in the number of Shares for each board lot, the New Share Certificates will have the same format and colour as the Existing Share Certificates.

EXPECTED TIMETABLE FOR THE CHANGE IN BOARD LOT SIZE

Set out below is the expected timetable for the change in board lot size of the Shares where all times and dates refer to Hong Kong local times and dates:

Event

Hong Kong Time

First day for free exchange of Existing Share Certificates in board lot of 1,000 Shares each for New Share Certificates in board lot of 15,000 Shares each…………………………………….……………...Wednesday, 28 January 2015

Last day for trading of the Shares in board lots of 1,000 shares each in the original counter……………….……………….Tuesday, 10 February 2015

Effective date of the change in board lot size

from 1,000 Shares to 15,000 Shares………………………..………...…Wednesday, 11 February 2015

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Event

Hong Kong Time

Original counter for trading in the Shares in board lot of 1,000 Shares each becomes counter for trading in the Shares in board lot of 15,000 Shares each…………9:00 a.m. on Wednesday, 11 February 2015 Temporary counter for trading in the Shares in board lot of 1,000 shares each opens……………..……9:00 a.m. on Wednesday, 11 February 2015 First day of parallel trading in the Shares (in board lot of 15,000 Shares each and board lot of 1,000 Shares each)……………………..…..…9:00 a.m. on Wednesday, 11 February 2015 Designated broker starts to stand in the market to provide matching services for sale and purchase of odd lot of Shares………………………….9:00 a.m. on Wednesday, 11 February 2015 Temporary counter for trading in the Shares in board lot of 1,000 Shares each closes…………………………4:00 p.m. on Thursday, 5 March 2015 Last day of parallel trading in the Shares (in board lot of 15,000 Shares each and board lot of 1,000 Shares)...…….………………………..……...4:00 p.m. on Thursday, 5 March 2015 Designated broker ceases to stand in the market to provide matching services for sale and purchase of odd lot of Shares………..……………….……..4:00 p.m. on Thursday, 5 March 2015 Last day for free exchange of Existing Share Certificates in board lot of 1,000 Shares each for New Share Certificates in board lot of 15,000 Shares each…………………………………….………4:30 p.m. on Monday, 9 March 2015

Shareholders and potential investors of the Company should exercise caution when dealing in the Shares, and if they are in any doubt about their position, they should consult their professional advisers.

DEFINITIONS

In this announcement, the following expressions have the meanings set out below unless the context otherwise requires:

“Board” the board of directors; “Company” Lai Sun Development Company Limited (麗新發展有限公司), a company incorporated in Hong Kong with limited liability, the issued shares of which are listed and traded on the Main Board of the Stock Exchange (Stock Code: 488); “Directors” the directors of the Company;

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“Existing Share Certificate(s)” certificate(s) of Shares in board lot(s) of 1,000 Shares; “HK$” Hong Kong dollars, the lawful currency of Hong Kong; “Hong Kong” the Hong Kong Special Administrative Region of the People’s Republic of China; “New Share Certificate(s)” certificate(s) of Shares in board lots(s) of 15,000 Shares; “Share(s)” ordinary share(s) in the issued capital of the Company; “Shareholder(s)” the duly registered holder(s) of the Share(s); “Share Registrar” Tricor Tengis Limited, the Company’s share registrar; and “Stock Exchange” The Stock Exchange of Hong Kong Limited.

By Order of the Board Lai Sun Development Company Limited Lam Kin Ngok, Peter Chairman

Hong Kong, 21 January 2015

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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