SmarTone Telecommunications : Grant of Awarded Shares Pursuant to the Share Award Scheme

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.

SmarTone Telecommunications Holdings Limited

(Incorporated in Bermuda with limited liability)

(Stock Code: 00315)

GRANT OF AWARDED SHARES PURSUANT TO

THE SHARE AWARD SCHEME

The Board announces that, on 28 February 2020 (the "Date of Grant"), the Company granted an aggregate of 1,553,110 Awarded Shares to 319 Selected Employees (the Grantees) pursuant to the Share Award Scheme.

None of the Grantees is a director of the Company. Among the Grantees, 5 of them are directors of certain Subsidiaries, and they are therefore connected persons of the Company (the "Connected Grantees" for the purpose of this Announcement).

Further details of the Grantees are as set out below:
		No. of Awarded
		Shares Granted
Connected Grantees
5 directors of certain Subsidiaries	93,100
Non-Connected Grantees
314 Selected Employees who are not connected with the Company
or connected persons of the Company	1,460,010
Total
1,553,110

The grant of the Awarded Shares to each of the Connected Grantees constitutes a connected transaction of the Company under Chapter 14A of the Listing Rules. As all applicable percentage ratios (as specified in the Listing Rules) are below 0.1% and the transactions are on normal commercial terms, the grant of the Awarded Shares to the Connected Grantees is fully exempt under Rule 14A.76(1) of the Listing Rules and exempted from reporting, announcement and shareholders' approval requirements.

The 1,553,110 Awarded Shares granted to the Grantees represent 0.14% of the issued share capital of the Company as at the date of this Announcement. The 1,553,110 Awarded Shares represent the value of HK$8,542,105, taking into account the closing price of HK$5.50 per Share as stated in the daily quotation sheets issued by The Stock Exchange of Hong Kong Limited on the Date of Grant.

The Trustee shall purchase from the market the relevant number of Shares in accordance with written instructions issued by the Board from time to time and shall hold such Shares until they are vested in accordance with the Scheme Rules.

1

The Awarded Shares granted shall vest in the Grantees in accordance with the vesting schedule under the Scheme Rules, that is, 30% of the Awarded Shares shall vest on the first and second anniversary date of the Date of Grant and the balance shall vest on the third anniversary date of the Date of Grant. Vesting of the Awarded Shares will be conditional on the Grantee remaining an employee of the Group until and on each of the relevant vesting dates and his/her execution of the relevant documents to effect the transfer from the Trustee and payment of the vesting expenses (as applicable).

When the relevant Grantee has satisfied all vesting conditions, the Trustee shall transfer the relevant vested Shares to the Grantee in accordance with the Scheme Rules.

DEFINITIONS
Awarded Shares	in respect of a Selected Employee, such number of Shares allocated or
	awarded by the Trustee pursuant to the Scheme Rules
Board	the board of directors of the Company
Company	SmarTone Telecommunications Holdings Limited, a company
	incorporated in Bermuda with limited liability, the Shares of which are
	listed on The Stock Exchange of Hong Kong Limited
Group	the Company and its Subsidiaries
Listing Rules	the Rules Governing the Listing of Securities on The Stock Exchange
	of Hong Kong Limited
Scheme Rules	the rules relating to the Share Award Scheme adopted by the Board
Selected Employee(s)	employee(s) of the Group (including without limitation any executive,
	non-executive or independent non-executive director or any other
	director whatsoever) selected for participation in the Share Award
	Scheme pursuant to the Scheme Rules
Share Award Scheme	"The SmarTone Telecommunications Holdings Limited Employees'
	Share Award Scheme" adopted by the Board on 29 June 2018
	whereby award of Shares may be made to Selected Employees
	pursuant to a trust deed and the Scheme Rules
Shares	ordinary shares of HK$0.10 each in the capital of the Company
Subsidiary(ies)	subsidiary(ies) of the Company from time to time within the meaning of
	the Companies Ordinance (Cap.622 of the Laws of Hong Kong)
Trustee	Acheson Limited, which is independent and not connected with the
	Company

2

By Order of the Board

SmarTone Telecommunications Holdings Limited

Mak Yau-hing, Alvin

Company Secretary

Hong Kong, 28 February 2020

As at the date of this announcement, the Executive Directors of the Company are Ms. Anna YIP (Chief Executive Officer), Mr. CHAN Kai-lung, Patrick and Mr. CHAU Kam-kun, Stephen; Non- Executive Directors are Mr. KWOK Ping-luen, Raymond (Chairman), Mr. CHEUNG Wing-yui (Deputy Chairman), Mr. FUNG Yuk-lun, Allen (Deputy Chairman), Mr. David Norman PRINCE, Mr. SIU Hon- wah, Thomas, and Mr. John Anthony MILLER; Independent Non-Executive Directors are Dr. LI Ka- cheung, Eric, JP, Mr. NG Leung-sing, JP, Mr. GAN Fock-kin, Eric, Mrs. IP YEUNG See-ming, Christine and Mr. LAM Kwok-fung, Kenny.

3