CCT Fortis : Further Update in relation to The Major Transaction concerning the Disposal

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(Incorporated in the Cayman Islands and continued in Bermuda with limited liability)

(Stock Code: 00138)

FURTHER UPDATE IN RELATION TO

THE MAJOR TRANSACTION CONCERNING THE DISPOSAL

References are made to the announcements of CCT Fortis Holdings Limited dated 26 April 2019, 10 May 2019, 21 May 2019 and 4 June 2019 (the "Announcements") in relation to the Disposal. Unless otherwise defined in this announcement, capitalised terms used in this announcement shall have the same meaning as defined in the Announcements.

The Company is pleased to announce that the parties to the Provisional Agreement entered into the Formal Agreement on 18 June 2019. The principal terms of the Formal Agreement are identical to the terms of the Provisional Agreement and in addition, include

1. customary representation and warranties of the Vendor for property transaction similar to the Disposal; and (ii) an agreed form of a tax indemnity to be provided by the Vendor to the Target Company upon Completion, details of which will be set out in the circular of the Company to be despatched to the Shareholders on or before 30 June 2019.

By Order of the Board of

CCT FORTIS HOLDINGS LIMITED

Mak Shiu Tong, Clement

Chairman

Hong Kong, 20 June 2019

As at the date of this announcement, the executive Directors are Mr. Mak Shiu Tong, Clement, Mr. Tam Ngai Hung, Terry, Ms. Cheng Yuk Ching, Flora; and the independent non-executive Directors are Mr. Tam King Ching, Kenny, Mr. Chen Li and Mr. Chow Siu Ngor.