IRC Limited — Share Issue/Capital Change 2017

Jan 20, 2017

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 (“ Listing Rules ”).

The board of directors (“ Board ”) of Lai Sun Development Company Limited (“ Company ”) announces that the Company has granted, subject to acceptance of the grantee, share options (“ Options ”) to eligible participant (“ Grantee ”) under the share option scheme adopted by the Company on 11 December 2015, to subscribe for ordinary shares in the share capital of the Company (“ Shares ”). Brief details of the Options are as follows:

Date of grant	:	20 January 2017
Total number of Shares comprised in the Options	:	3,000,000 Shares (“Option Shares”)
Exercise price per Option Share	:	HK$0.163
Closing price of the Shares on the date of grant	:	HK$0.163 per Share
Validity (exercisable) period of the Options	:	20 January 2017 to 19 January 2027

The Grantee is not a director, chief executive or substantial shareholder of the Company, or an associate (as defined in the Listing Rules) of any of them.

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

Hong Kong, 20 January 2017

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: