Ground International Development : Announcements and Notices - Further Delay in Despatch of Circular Regarding the Major Transaction in Relation to Financial Assistance and Continuing Connected Transactions

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GROUND INTERNATIONAL DEVELOPMENT LIMITED

廣澤國際發展有限公司

(Incorporated in Bermuda with limited liability)

(Stock Code: 989)

FURTHER DELAY IN DESPATCH OF CIRCULAR REGARDING

THE MAJOR TRANSACTION IN RELATION TO

FINANCIAL ASSISTANCE AND

CONTINUING CONNECTED TRANSACTIONS

Reference is made to the announcements of the Company dated 17 July 2019 and 7 August 2019 respectively (collectively, the "Announcements") regarding (i) the major transaction in relation to financial assistance and continuing connected transactions and (ii) the delay in despatch of the Circular. Capitalised terms used herein shall have the same meanings as those defined in the Announcements unless the context requires otherwise.

As disclosed in the Announcements, a Circular containing, among other things, further details of the Framework Agreements and the transactions contemplated thereunder, a letter of recommendation from the Independent Board Committee, a letter of advice from the Independent Financial Adviser to the Independent Board Committee and the Independent Shareholders on the Framework Agreements and a notice convening the SGM is expected to be despatched to the Shareholders on or before 16 August 2019 in compliance with the Listing Rules.

As additional time is required to prepare and finalise certain information to be included in the Circular, it is expected that the despatch date of the Circular will be postponed to a date falling on or before 20 August 2019.

By order of the Board

Ground International Development Limited

Cui Xintong

Chairperson

Hong Kong, 16 August 2019

As at the date of this announcement, the executive Directors are Ms. Cui Xintong and Ms. Liu Hongjian; the non-executive Director is Mr. Cong Peifeng and the independent non-executive Directors are Mr. Tsang Hung Kei, Mr. Zhu Zuoan and Mr. Wang Xiaochu.