A8 New Media : GRANT OF SHARE OPTION

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.

A8 New Media Group Limited

A8 新媒體集團有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 800)

GRANT OF SHARE OPTIONS

This announcement is made pursuant to Rule 17.06A of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited ("Stock Exchange") ("Listing Rules").

The board ("Board") of directors ("Directors") of A8 New Media Group Limited ("Company") hereby announces that on 28 June 2019, the Company has granted to 32 employees ("Grantees") of an associate company of the Company, subject to acceptance by the Grantees, share options ("Share Options") to subscribe for an aggregate of 59,664,000 ordinary shares of HK$0.01 each in the share capital of the Company ("Shares") (upon exercise in full and subject to adjustment in accordance with the share option scheme adopted by the Company on 25 May 2018 ("Share Option Scheme")) under the Share Option Scheme.

Details of the Share Options are set out below:

Date of grant	: 28 June 2019 ("Date of Grant")
Exercise price of the Share Options	: HK$0.219 per Share ("Exercise Price")
	The Exercise Price represents the highest of:
	(i)	the closing price of HK$0.219 per Share as stated in
		the daily quotations sheet issued by the Stock
		Exchange on 28 June 2019, being the Date of
		Grant;
	(ii) the average closing price of HK$0.2178 per Share
		as stated in the daily quotations sheet issued by the
		Stock Exchange for the five business days
		immediately preceding the Date of Grant; and
	(iii) the nominal value of the Share, which is HK$0.01.
Total number of the Shares to be	: 59,664,000 Shares (representing approximately 2.21%
issued upon exercise in full of the	of the total issued share capital of the Company as at the
Share Options granted	date of this announcement)

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Vesting date of the Share Options	:	(i)	50% of the Share Options, being the first tranche,
			on 30 June 2019;
		(ii)	30% of the Share Options, being the second
			tranche, on 30 June 2020; and
		(iii) 20% of the Share Options, being the third tranche,
			on 30 June 2021.
Validity period (i.e. exercise period)	: Each tranche of the Share Options is exercisable from
of the Share Options (subject to		its date of vesting to the earlier of:
acceptance)
		(i)	the date on which such Share Options lapses in
			accordance with the terms of the Share Option
			Scheme; or
		(ii) the date falling 10 years from the Date of Grant.
Consideration for the grant of	:	HK$1.00 to be paid by the Grantees upon the
the Share Options		acceptance of the Share Options granted

As at the Date of Grant, the Company had 2,700,886,628 Shares in issue.

None of the Grantees is a director, chief executive or substantial shareholder of the Company, or an associate (as defined under the Listing Rules) of any of them.

On behalf of the Board

A8 New Media Group Limited

Chairman & Executive Director

Liu Xiaosong

Hong Kong, 28 June 2019

As at the date of this announcement, the Board of the Company comprises:

1. Executive Directors namely Mr. Liu Xiaosong and Mr. Lin Qian; and
2. Independent Non-Executive Directors namely Mr. Chan Yiu Kwong, Ms. Wu Shihong and Mr. Li Feng.

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