Comba Telecom : GRANT OF SHARE OPTIONS

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.

COMBA TELECOM SYSTEMS HOLDINGS LIMITED

京 信 通 信 系 統 控 股 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 2342)

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 of directors (the "Board") of Comba Telecom Systems Holdings Limited (the "Company") hereby announces that on 8 April 2019 (the "Date of Grant"), the Company has granted 80,000,000 share options (the "Share Options") to various individuals (the "Grantees"), subject to acceptance of the Grantees, under the share option scheme adopted by the Company on 3 June 2013. The Share Options shall entitle the Grantees to subscribe for a total of 80,000,000 new ordinary shares of HK$0.10 each (the "Share(s)") in the share capital of the Company. Details of the Share Options granted are set out below:

Date of Grant	:	8 April 2019
Exercise price of the	: HK$1.89 per Share, which is higher of (i) HK$0.10, being
Share Options granted		the nominal value of the Share; (ii) HK$1.82, being the
		closing price of the Shares as stated in the daily quotations
		sheet of the Stock Exchange on the Date of Grant; and (iii)
		HK$1.89, being the average of the closing price of the
		Shares as stated in the daily quotations sheets of the Stock
		Exchange from 29 March 2019 to 4 April 2019, both dates
		inclusive (being the five consecutive trading days
		immediately preceding the Date of Grant)
Closing price of the	:	HK$1.82
Shares on the Date of
Grant

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Validity period of the	: The Share Options shall have a validity period of 5 years
Share Options	from 8 April 2019 to 7 April 2024, both dates inclusive,
	subject to the vesting conditions as stated in the offer letters
	to the Grantees.
	25% of the Share Options shall be vested on the date falling
	the first anniversary of the Date of Grant and exercisable
	from 8 April 2020 to 7 April 2024, both dates inclusive.
	25% of the Share Options shall be vested on the date falling
	the second anniversary of the Date of Grant and exercisable
	from 8 April 2021 to 7 April 2024, both dates inclusive.
	25% of the Share Options shall be vested on the date falling
	the third anniversary of the Date of Grant and exercisable
	from 8 April 2022 to 7 April 2024, both dates inclusive.
	25% of the Share Options shall be vested on the date falling
	the fourth anniversary of the Date of Grant and exercisable
	from 8 April 2023 to 7 April 2024, both dates inclusive.

Among all the Share Options granted above, 30,600,000 Share Options were granted to the following directors of the Company (including independent non-executive directors) with details as follows:

		Number of
		Share Options granted
Executive directors
Xu Huijun		10,000,000
Chang Fei Fu		5,000,000
Bu Binlong		5,000,000
Wu Tielong		5,000,000
Huo Xinru		5,000,000
Independent non-executive directors
Lau Siu Ki, Kevin		200,000
Lin Jin Tong		200,000
Ng Yi Kum		200,000
Total:		30,600,000

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The grant of the Share Options to each of the above directors has been respectively approved by the independent non-executive directors of the Company (excluding the independent non-executive director who is the grantee of the Share Options). Each of the directors has abstained from voting in the grant of Share Options to him/her.

Save as disclosed above, none of the Grantees is a director, chief executive or substantial shareholder (as defined in the Listing Rules) of the Company, or any of their respective associates (as defined in the Listing Rules) as at the date of this announcement.

By order of the Board

Comba Telecom Systems Holdings Limited

Chang Fei Fu

Executive Director

Hong Kong, 8 April 2019

As at the date of this announcement, the Board comprises the following executive directors: Mr. FOK Tung Ling, Mr. ZHANG Yue Jun, Mr. XU Huijun, Mr. CHANG Fei Fu, Mr. BU Binlong, Mr. WU Tielong and Ms. HUO Xinru; and the following independent non-executive directors: Mr. LAU Siu Ki, Kevin, Dr. LIN Jin Tong and Ms. NG Yi Kum.

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