Easyknit International : JOINT ANNOUNCEMENT - FURTHER DELAY IN DESPATCH OF CIRCULAR - VERY SUBSTANTIAL ACQUISITION

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.

JOINT ANNOUNCEMENT

EASYKNIT INTERNATIONAL	EMINENCE ENTERPRISE LIMITED
HOLDINGS LIMITED	高 山 企 業 有 限 公 司
永 義 國 際 集 團 有 限 公 司	(Incorporated in Bermuda with limited liability)
(Incorporated in Bermuda with limited liability)	(Stock Code: 616)
(Stock Code: 1218)

FURTHER DELAY IN DESPATCH OF CIRCULAR

VERY SUBSTANTIAL	CONNECTED TRANSACTION
ACQUISITION	AND
	VERY SUBSTANTIAL DISPOSAL

Reference is made to the joint announcements issued by Easyknit International Holdings Limited ("Easyknit") and Eminence Enterprise Limited ("Eminence") dated 9 November 2020, 4 January 2021, 22 January 2021 and 19 February 2021 (collectively, the "Announcements") in relation to, among other things, the Sale and Purchase Agreement and delay in despatch of circular; and the composite offer and response document dated 26 March 2021 jointly issued by Ace Winner Investment Limited (the "Offeror") and Eminence in relation to the voluntary conditional cash offer (the "Share Offer") by Altus Investments Limited for and on behalf of the Offeror, a wholly-owned subsidiary of Easyknit, for all issued shares of Eminence (other than those already owned or agreed to be acquired by the Offeror and parties acting in concert with it) (the "Composite Document"). Unless otherwise stated, capitalized terms used herein shall have the same meanings as those defined in the Announcements and the Composite Document.

As stated in the Announcements, a joint circular (the "Joint Circular") containing, among other matters, (i) details of the Sale and Purchase Agreement; (ii) financial information on the Easyknit Group; (iii) financial information on the Eminence Group; (iv) an independent property valuation report on the Properties; (v) a letter from the Eminence Independent Board Committee containing its recommendations to the Eminence Independent Shareholders; (vi) a letter of recommendation from the Eminence Independent Financial Adviser containing its advice to the Eminence Independent Board Committee and the Eminence Independent Shareholders; (vii) a notice of the Easyknit SGM; and (viii) a notice of the Eminence SGM, was expected to be despatched to the Easyknit Shareholders and the Eminence Shareholders respectively on or before 31 March 2021.

As stated in the Composite Document, Easyknit does not at present and in the near term intend to dispose of or redeploy the assets of the EE Group other than in the ordinary course of business. If

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the Share Offer becomes unconditional, on completion of the Share Offer, EE will become a subsidiary of Easyknit and Easyknit will review with EE Board their respective businesses and operations and whether changes are desirable in order to maximise efficiencies and exploit possible synergies. If any changes are proposed as a result of that review, they will be made in compliance with the Listing Rules and (if relevant at the time) the Takeovers Code.

As additional time is required for finalising the information to be included in the Joint Circular, and to consider the implications of the result of the Share Offer, which is not expected to be known before 16 April 2021, despatch of the Joint Circular will be further postponed to a date on or before 12 May 2021.

By order of the Easyknit Board	By order of the Eminence Board
EASYKNIT INTERNATIONAL	EMINENCE ENTERPRISE LIMITED
HOLDINGS LIMITED	Lai Law Kau
Koon Ho Yan Candy	Chairman and Chief Executive Officer
President and Chief Executive Officer

Hong Kong, 31 March 2021

As at the date hereof, the Easyknit Board comprises Ms. Koon Ho Yan Candy, Ms. Lui Yuk Chu and Mr. Tse Wing Chiu Ricky as executive Easyknit Directors; and Mr. Tsui Chun Kong, Mr. Jong Koon Sang and Mr. Lau Chak Hang Charles as independent non-executive Easyknit Directors.

As at the date hereof, the Eminence Board comprises Mr. Lai Law Kau, Ms. Lui Yuk Chu and Mr. Kwong Jimmy Cheung Tim as executive Eminence Directors; and Mr. Kan Ka Hon, Mr. Lau Sin Ming and Mr. Wu Koon Yin Welly as independent non-executive Eminence Directors.

In case of any inconsistency, the English version of this joint announcement shall prevail over the Chinese version.

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