Time Interconnect Technology Limited — Share Issue/Capital Change 2018

Aug 24, 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 respresentation 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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(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1729)

GRANT OF SHARE OPTIONS

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 “ Directors ”) of Time Interconnect Technology Limited (the “ Company ”) and together with its subsidiaries (the “ Group ”), hereby announces that on 24 August 2018 (the “ Date of Grant ”), 88,992,000 share options (the “ Option(s) ”) to subscribe for ordinary shares of HK$0.01 each (the “ Shares ”) of the Company were granted to 37 eligible persons (the “ Grantees ”), subject to acceptance of the Grantees, pursuant to the Company’s share option scheme adopted on 24 January 2018 (the “ Share Option Scheme ”). The details of the Options granted are set out below:

Date of Grant:

24 August 2018

Exercise price of Options granted:

Each Option shall entitle the holder of the Option to subscribe for one Share upon exercise of such Option at an exercise price of HK$0.349 per Share, being the higher of (i) the closing price of HK$0.34 per Shares as quoted on the Stock Exchange on the Date of Grant; (ii) the average closing price of HK$0.349 per Shares as quoted on the Stock Exchange for the 5 business days immediately preceding the Date of Grant; and (iii) the nominal value of HK$0.10 per Share.

Number of Options granted: 88,992,000 Options

Validity period of the Options:

Subject to the terms of the Share Option Scheme and the vesting period as set out below, the Options shall be exercisable in whole or in part for a period of 10 years from 24 August 2018 to 23 August 2028 (both days inclusive), notwithstanding that the Share Option Scheme may have expired or may have been terminated.

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Vesting period of the Options:

Up to 1/3 of the Options can be exercised after 18 months of the Date of Grant (i.e. 24 February 2020), further 1/3 of the Options can be exercised after 30 months of the Date of Grant (i.e. 24 February 2021), and the remaining of the Options can be exercised after 42 months of the Date of Grant (i.e. 24 February 2022), such that any unexercised Options can be carried forward from the previous tranche(s) and will be exercisable until 23 August 2028.

Among the aggregate of 88,992,000 Options, 27,312,000 Options were granted to the Directors, chief executive and substantial shareholder of the Group with details as follows:

NamePosition held and Relationship with the CompanyMr. Cua Tin Yin, SimonChief Executive Officer and Executive DirectorMr. Wong Chi KuenChief Financial Officer and Executive DirectorMr. Lo Chung Wai, PaulChairman, Non-executive Director andSubstantial ShareholderMr. Ho Hin ShunIndependent Non-executive DirectorMr. Luk Wai ShingIndependent Non-executive DirectorMr. Chan Chung Shun, EricIndependent Non-executive DirectorTotal:

Numberof Optionsgranted10,488,0009,528,0001,824,0001,824,0001,824,0001,824,00027,312,000

In accordance with the Rule 17.04(1) of the Listing Rules, the grant of Options to each of the above Directors, chief executive and substantial shareholder of the Group has been approved by the independent non-executive Directors (excluding the independent non-executive Director who is the Grantee).

Save as disclosed above, none of the other Grantees are the Directors, chief executive or substantial shareholders of the Company, nor an associate (as defined under the Listing Rules) of any of them.

By order of the Board Time Interconnect Technology Limited Cua Tin Yin Simon

Executive Director and Chief Executive Officer

Hong Kong, 24 August 2018

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As at the date of this announcement, the Board of the Company comprises two executive Directors, namely Mr. Cua Tin Yin Simon and Mr. Wong Chi Kuen, one non-executive Director, namely Mr. Lo Chung Wai Paul and three independent non-executive Directors, namely Mr. Ho Hin Shun, Mr. Luk Wai Shing and Mr. Chan Chung Shun Eric.

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