Plover Bay Technologies Limited — Share Issue/Capital Change 2018

Sep 14, 2018

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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GRANT OF SHARE OPTIONS

The Board of the Company hereby announces that, subject to acceptance of the Grantees, 12,264,000 Options to subscribe for the Shares were granted on 14 September 2018 under the Share Option Scheme.

This announcement is made pursuant to Rule 17.06A of the Rules Governing the Listing of Securities (the “ Listing Rules ”) on The Stock Exchange of Hong Kong Limited (the “ Stock Exchange ”).

The Board (the “ Board ”) of directors (the “ Director(s) ”) of Plover Bay Technologies Limited (the “ Company ”) hereby announces that subject to acceptance of the grantees (the “ Grantees ”), 12,264,000 share options (the “ Options ”) to subscribe for 12,264,000 ordinary shares of HK$0.01 each in the Company (the “ Shares ”) were granted on 14 September 2018 (the “ Date of Grant ”), under the share option scheme conditionally adopted by the Company on 21 June 2016 and which became effective on 13 July 2016 (the “ Share Option Scheme ”). Details of the Options granted are as follows:

Date of Grant

: 14 September 2018

Exercise price of : HK$1.02 per share, representing the highest of: Options granted

• (i) the closing price of HK$1.02 per Share as stated in the Stock Exchange’s daily quotation sheets on the Date of Grant;

• (ii) the average closing price of HK$0.948 per Share as stated in the Stock Exchange’s daily quotation sheets for the five business days immediately preceding the Date of Grant; and

(iii) the nominal value of HK$0.01 per Share.

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Number of Options : 12,264,000 Options, each Option entitling the Grantees to subscribe granted for one Share

• Validity period of : 5 years, from the Date of Grant up to 13 September 2023, both dates Options inclusive

Vesting period of : 1. 10,864,000 Options: Options

• (i) 25% of the Options are exercisable from 14 September 2019 to 13 September 2023;

• (ii) 25% of the Options are exercisable from 14 September 2020 to 13 September 2023;

• (iii) 25% of the Options are exercisable from 14 September 2021 to 13 September 2023; and

• (iv) 25% of the Options are exercisable from 14 September 2022 to 13 September 2023.

2. 1,400,000 Options:

• (i) 50% of the Options are exercisable from 14 September 2020 to 13 September 2023;

• (v) 25% of the Options are exercisable from 14 September 2021 to 13 September 2023; and

• (vi) 25% of the Options are exercisable from 14 September 2022 to 13 September 2023;

To the best of knowledge, information and belief of the Board, none of the Grantees is a Director, chief executive or substantial shareholder of the Company, or any of his respective associates (as defined in the Listing Rules).

By Order of the Board of

Plover Bay Technologies Limited Chan Wing Hong Alex

Chairman and executive Director

Hong Kong, 14 September 2018

As at the date of this announcement, the executive Directors are Mr. Chan Wing Hong Alex, Mr. Chau Kit Wai, Mr. Yip Kai Kut Kenneth, Mr. Chong Ming Pui and Mr. Yeung Yu; the independent nonexecutive Directors are Dr. Yu Kin Tim, Mr. Ho Chi Lam and Mr. Wan Sze Chung.

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