CIL : DISCLOSEABLE TRANSACTION - DISPOSAL OF ASSETS

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(Incorporated in Bermuda with limited liability)

(Stock Code: 00479)

DISCLOSEABLE TRANSACTION

DISPOSAL OF ASSETS

This announcement is made by CIL Holdings Limited (the "Company" together with its subsidiaries, the "Group").

On 12 August 2020, the Group disposed a pleasure boat for the sum of HK$5,362,000 ("Disposal").

To the best of the knowledge of the directors of the Company, the buyer of the pleasure boat is an independent third party of the Company and its connected persons.

The Disposal constitutes a "transaction" pursuant to Rule 14.04(1) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules").

As at least one of the applicable percentage ratios under Rule 14.07 of the Listing Rules in respect of the Disposal is more than 5% but all are less than 25%, the Disposal constitutes a discloseable transaction for the Company and is subject to the notification and announcement requirements under Chapter 14 of the Listing Rules.

By Order of the Board

CIL Holdings Limited

Ke Jun Xiang

Chairman

Hong Kong, 13 August 2020

As at the date of this announcement, the Board comprises 4 executive directors, namely Mr. Ke Jun Xiang (Chairman and Chief Executive Officer), Mr. Wilson Wong (Deputy Chairman), Ms. Lo Yuen Chung and Mr. Fu Daoding; 2 non-executive directors, namely Mr. Chow Yeung Tuen, Richard and Mr. Li Chung Kai, Philip; and 3 independent non-executive directors, namely Mr. Chan Siu Kay, Mr. Choi Chin Yu and Dr. Chow Ho Wan Owen.

• For identification purpose only