The Chuang's Consortium Board and the Chuang's China Board announced that on 29 June 2021, the Vendors (indirect wholly-owned subsidiaries of Chuang's Consortium), the Purchaser (a direct wholly-owned subsidiary of Chuang's China), Chuang's Consortium and Chuang's China entered into the Sale and Purchase Agreement, pursuant to which the Vendors have conditionally agreed to sell and assign, and the Purchaser has conditionally agreed to acquire and accept the assignment of, the Sale Shares and the Sale Loans. Chuang's China Investments Limited declared that conditional upon the Completion of the Proposed Transaction, Chuang's China will distribute the Proposed Conditional Chuang's China Special Cash Distribution of 8.5 cents per Chuang's China Share to Chuang's China Shareholders whose names appear on the register of members of Chuang's China on the record date for determining the entitlement to such cash distribution. The Proposed Conditional Chuang's China Special Cash Distribution may only become payable upon the Completion of the Proposed Transaction.