KLN Logistics Group Limited — Share Issue/Capital Change 2012

Jun 22, 2012

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.

==> picture [353 x 49] intentionally omitted <==

(Incorporated in Hong Kong with limited liability) (Stock code: 345)

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 Board of Directors (the “Board”) of Vitasoy International Holdings Limited (the “Company”) announces that on 22nd June, 2012, the Company offered to grant a total of 3,768,000 share options (the “Share Options”) to certain employees of the Company (the “Grantees”), subject to acceptance of the Grantees, under the share option scheme of the Company adopted on 4th September, 2002 (the “Share Option Scheme”). The Share Options shall entitle the Grantees to subscribe for a total of 3,768,000 ordinary shares of HK$0.25 each (each a “Share”) in the capital of the Company. A summary of such grant is set out below:

Date of grant : 22nd June, 2012 (“Date of Grant”)

Exercise price of Share Options : HK$6.274 per Share, which represents the highest of granted (i) the closing price of HK$6.170 per Share as stated in the daily quotations sheet of The Stock Exchange of Hong Kong Limited (the "Stock Exchange") on 22nd June, 2012, being the Date of Grant; (ii) the average closing price of HK$6.274 per Share as stated in the daily quotations sheet of the Stock Exchange for the five business days immediately preceding the Date of Grant; and (iii) the nominal value of the Share.

Number of Share Options granted : 3,768,000 share options

Closing price of the Shares on the : HK$6.170 per Share Date of Grant

Validity period of the Share : 10 years from 22nd June, 2012 to 21st June, 2022 Options

Vesting condition :

Subject to a vesting scale in tranches of 25% each per annum starting from the first anniversary and fully vested in the fourth anniversary of the Date of Grant.

1

By Order of the Board Winston Yau-lai LO Executive Chairman

Hong Kong, 22nd June, 2012

As at the date of this announcement, Mr. Winston Yau-lai Lo and Mr. Laurence P. Eisentrager are executive directors. Ms. Myrna Mo-ching Lo and Ms. Yvonne Mo-ling Lo are non-executive directors. Dr. the Hon. Sir David Kwok-po Li, Mr. Iain F. Bruce, Mr. Jan P. S. Erlund and Mr. Valiant Kin-piu Cheung are independent non-executive directors.

2