SAL’S ASSOCIATE IN CHINA EXPIRY OF MORATORIUM PERIOD AND POTENTIAL SALE OF SHARES

Unless otherwise defined, capitalised terms herein shall bear the same meanings ascribed to them in the Company’s announcements dated 15 March 2011, 6 June 2011, 10 April 2012, 8 June 2012, 13 April 2015, 11 May 2015, 19 May 2015 and 27 May 2015 (the “Announcements”).


The Board of SAL refers to the Announcements in relation to the listing of GIT on ChiNext of the Shenzhen Stock Exchange (“Listing”).


Following the Listing, SAL holds an aggregate of 27,000,000 shares (“GIT Shares”), currently representing approximately 20.01% of the total issued share capital of GIT. In connection with the Listing, SAL provided an undertaking not to sell or otherwise dispose of any part of its shareholding in the capital of GIT during the period from 28 May 2015 to 28 May 2016 (“Moratorium Period”).


On 1 June 2016 (“GIT Announcement Date”), GIT announced that the Moratorium Period has since expired and that SAL, being one of the substantial shareholders of GIT, had advised GIT that it may sell up to 8,000,000 of its GIT Shares within the six-month period commencing from 24 June 2016, being the date after 15 business days from the GIT Announcement Date (“Potential Sale”). It is a requirement under the Chinese Securities Regulatory Commission Rules that substantial shareholder of publicly listed companies states their intention regarding disposal of shares.


The Board will make further announcement(s) should the Potential Sale or any part thereof be effected. Shareholders and potential investors of SAL are advised, however, there is no certainty or assurance, as at the date of this announcement, that SAL will proceed to effect the Potential Sale or any part thereof and they are, accordingly, further advised to exercise caution when dealing in SAL’s shares.


Shareholders and potential investors should consult their stockbrokers, bankers, solicitors or other professional advisers if they have any doubt about the actions they should take.


By Order of the Board


Kwong Yong Sin
Group Managing Director
1 June 2016


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