PYI : Update on Major Transaction in relation to the Disposal of 51% Equity Interest in Yichang Port Group Limited – Completion of Disposal and Receipt of Second Consideration Sum

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PYI Corporation Limited

(Incorporated in Bermuda with limited liability)

(Stock Code: 498)

UPDATE ON MAJOR TRANSACTION IN RELATION TO THE DISPOSAL

OF 51% EQUITY INTEREST IN

宜昌港務集團有限責任公司 (YICHANG PORT GROUP LIMITED*)

COMPLETION OF DISPOSAL AND

RECEIPT OF SECOND CONSIDERATION SUM

Reference is made to the announcement of PYI Corporation Limited (the "Company") dated 22 May 2019, the circular of the Company dated 10 June 2019 (the "Circular") and the announcements of the Company dated 26 June 2019 and 27 June 2019 respectively in relation to the disposal of 51% equity interest in 宜昌港務集團有限責 任公司 (Yichang Port Group Limited*). Unless otherwise specified, capitalised terms used in this announcement shall have the same meanings as those defined in the Circular.

The Board is pleased to announce that the Disposal has been completed and the Vendor has on 4 July 2019 received the Second Consideration Sum of approximately RMB123.5 million, which represents 35% of the Net Consideration. Together with the First Consideration Sum of approximately RMB176.5 million, an aggregate sum of approximately RMB300 million equivalent to 85% of the Net Consideration has been received, all without taking into account any Adjustment.

Further announcement will be made by the Company in respect of the receipt of the balance of the Consideration as and when appropriate.

By Order of the Board

PYI Corporation Limited

Lau Tom Ko Yuen

Chairman and Managing Director

Hong Kong, 4 July 2019

As at the date of this announcement, the composition of the Board is as follows:

Mr. Lau Tom Ko Yuen	: Chairman and Managing Director
Mr. Sue Ka Lok	: Executive Director
Ms. Wu Yan Yee	: Executive Director
Mr. Chan Shu Kin	: Independent Non-Executive Director
Ms. Wong Lai Kin, Elsa	: Independent Non-Executive Director
Mr. Leung Chung Ki	: Independent Non-Executive Director
* For identification purpose only