China Glass : 2018-01-22VOLUNTARY ANNOUNCEMENT - BUSINESS UPDATE RELATING TO FACILITY CONTRACT OF U...

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CHINA GLASS HOLDINGS LIMITED ʕ਷ޚᆨછٰϞࠢʮ̡*

(Incorporated in Bermuda with limited liability)

(Stock Code: 3300)

VOLUNTARY ANNOUNCEMENT

BUSINESS UPDATE RELATING TO FACILITY CONTRACT OF USD26 MILLION

This is a voluntary announcement made by China Glass Holdings Limited (the "Company") for keeping the shareholders and potential investors informed of the latest business development of the Company.

The board of directors of the Company (the "Board") is pleased to announce that on 22 January 2018, CNG Glass (Nigeria) FZE €ʕޚ€̵˚лԭІ൱ਜʮ̡ * (the "Borrower"), an indirect wholly-owned subsidiary of the Company, entered into a facility contract (the "Facility Contract") with China Development Bank (the "Lender") for the amount of USD26 million (the "Facility").

The Facility is for a term of five years. The Facility will be used for the construction of a float glass and online solar control coated glass production line project in Nigeria.

In connection with the Facility, (i) each of the Company (as guarantor) and Triumph Technology Group Company Limited*€௱ସ߅ҦණྠϞࠢʮ̡(as guarantor and being a substantial shareholder of the Company) agreed to provide a guarantee for joint and several liability; and (ii) Beijing Qinchang Glass Co., Ltd.*€̏ԯॢ׹ޚᆨϞࠢ ʮ̡(as mortgagor), an indirect wholly-owned subsidiary of the Company, agreed to provide mortgage over its legally owned industrial property and apartment, to the Lender for the liabilities of the Borrower under the Facility Contract.

The Board is of the view that the Facility would allow the Company and its subsidiaries (collectively, the "Group") to further develop the Group's production base in Nigeria. The Board believes that the entering into of the Facility Contract will be beneficial to the growth of the Company and in the best interests of the Company's shareholders.

By Order of the Board

China Glass Holdings Limited

Cui Xiangdong

Chief Executive Officer

Hong Kong, 22 January 2018

As at the date of this announcement, the directors of the Company are as follows:

Executive director:

Mr. Cui Xiangdong (Chief Executive Officer)

Non-executive directors:

Mr. Peng Shou (Chairman) ; Mr. Zhao John Huan; and Mr. Zhou Cheng (Honorary Chairman)

Independent non-executive directors:

Mr. Zhang Baiheng; Mr. Zhao Lihua; and Mr. Chen Huachen

* For identification only