GTI : UPDATE ON HEARING FOR APPLICATION FOR DIRECTIONS AND SANCTION OF SCHEME OF ARRANGEMENT

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GTI HOLDINGS LIMITED

΍ԮණྠϞࠢʮ̡

(a company incorporated in the Cayman Islands with limited liability)

(Provisional Liquidators Appointed)

(For Restructuring Purposes)

(Stock Code: 3344)

UPDATE ON HEARING FOR APPLICATION FOR DIRECTIONS AND

SANCTION OF SCHEME OF ARRANGEMENT

This announcement is made by GTI Holdings Limited (the "Company") pursuant to Rule 13.09 and Rule 13.25 of the Rules (the "Listing Rules") Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and the Inside Information Provisions (as defined under the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

References are made to the announcements of the Company dated 7 July 2020, 20 August 2020, 27 August 2020, 28 September 2020, 5 November 2020 and 30 December 2020 (collectively, the "Announcements") in relation to, among other things, the hearings for application for directions and sanction of the Scheme of Arrangement. Unless otherwise stated, capitalised terms used herein shall have the meanings as defined in the Announcements.

As disclosed in the Announcement dated 30 December 2020, the High Court had given directions on the preparation of the documents in relation to the Scheme of Arrangement in the hearing on 22 December 2020 and the hearing for sanction of the proposed Scheme of Arrangement had been tentatively rescheduled on 12 March 2021.

As additional time is required for the Company and the JPLs to finalise the information to be contained in the documents in relation to the Scheme of Arrangement, the Company sought the High Court's leave to re-fix the hearing date for sanction of the proposed Scheme of Arrangement and the High Court has directed that the sanction hearing be re-fixed on 30 June 2021.

Further announcement(s) will be made by the Company as and when appropriate in relation to any material development of the Scheme Meeting and the hearing(s) of the Scheme of Arrangement, and in relation to the definitive date and time for the Scheme Meeting.

Shareholders and potential investors of the Company should exercise caution when they deal or contemplate dealing in the Company's shares or other securities of the Company.

By Order of the Board GTI Holdings Limited

(Provisional Liquidators Appointed)

(For Restructuring Purposes)

Ng Kwok Hung Perry

Executive Director

Hong Kong, 12 March 2021

As at the date of this announcement, the Board comprises (i) Mr. Ng Kwok Hung Perry, Mr. Hao Xiangbin and Mr. Tan Teng Hong as executive Directors; (ii) Mr. Cheung Kiu Cho Vincent as non-executive Director; and (iii) Mr. Chan Shu Kin, Mr. Chung Lim Tung, Mr. Ng Ka Lun and Mr. Zhou Weijia (alias Zhou Yi) as independent non-executive Directors.