Transmit Entertainment Limited — M&A Activity 2016

Mar 29, 2016

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.

This announcement appears for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for securities of the Company.

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Pegasus Entertainment Holdings Limited 天 馬 影 視 文 化 控 股 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 1326)

ANNOUNCEMENT PURSUANT TO RULE 3.7 OF THE TAKEOVERS CODE AND

RULE 13.09 OF THE LISTING RULES

AND INSIDE INFORMATION PROVISIONS UNDER PART XIVA OF THE SECURITIES AND FUTURES ORDINANCE TERMINATION OF NEGOTIATION OF THE POTENTIAL TRANSACTION

This announcement is made by Pegasus Entertainment Holdings Limited (the ‘‘Company’’) pursuant to Rule 3.7 of the Hong Kong Code on Takeovers and Mergers (the ‘‘Takeovers Code’’) and Rule 13.09 of the Rules Governing the Listing of Securities (the ‘‘Listing Rules’’) on The Stock Exchange of Hong Kong Limited and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Reference is made to the announcements of the Company dated 7 October 2015, 6 November 2015, 16 November 2015, 30 November 2015, 14 December 2015, 31 December 2015, 29 January 2016 and 29 February 2016 respectively in relation to the Potential Transaction (the ‘‘Announcements’’). Capitalised terms used in this announcement shall have the same meanings as those defined in the Announcements, unless specified otherwise.

The Board has been informed by the Potential Vendors that (i) no formal or legally binding agreement for the Potential Transaction has been entered into between the Potential Vendors and the Third Party up to and including the date of this announcement; and (ii) the Potential Vendors have terminated negotiation with the Third Party in respect of the Potential Transaction.

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For the purpose of the Takeovers Code, the offer period in respect of the Potential Transaction is closed on the date of this announcement.

The Board considers that the termination of negotiation in respect of the Potential Transaction would have no material adverse impact on the financial and operational position of the Company and its subsidiaries.

Shareholders of the Company and potential investors are advised to continue to exercise caution when dealing in the securities of the Company.

By order of the Board Pegasus Entertainment Holdings Limited Wong Pak Ming Chairman

Hong Kong, 29 March 2016

As at the date of this announcement, the executive Directors are Mr. Wong Pak Ming, Ms. Wong Yee Kwan Alvina and Mr. Wong Chi Woon Edmond and the independent nonexecutive Directors are Mr. Lam Kam Tong, Mr. Lo Eric Tien-cheuk and Mr. Tang Kai Kui Terence.

All the Directors jointly and severally accept full responsibility for the accuracy of the information contained in this announcement and confirm, having made all reasonable inquiries, that to the best of their knowledge, opinions expressed in this announcement have been arrived at after due and careful consideration and there are no other facts not contained in this announcement, the omission of which would make any statement in this announcement misleading.

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