Hong Kong Television Network : GRANT OF SHARE OPTIONS

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.

GRANT OF SHARE OPTIONS

This announcement is made pursuant to Rule 17.06A of the Rules Governing the Listing of Securities (the "Listing Rules") on The Stock Exchange of Hong Kong

Limited (the "Stock Exchange").

The board of directors (the "Board") of Hong Kong Television Network Limited (the "Company") hereby announces that on 27 December 2019, the Company granted a total of 22,538,300 share options (the "Share Options") to subscribe for ordinary shares of the Company (the "Shares') to certain eligible persons (the "Grantee") under the share option scheme adopted by the Company on 31 December 2012. The Share Options are subject to the acceptance of the Grantees. Details of the Share Options granted are set out below:

Date of grant

Exercise price of Share Options granted

Number of Share Options granted

Closing price of the Shares on the Date of Grant

• 27 December 2019 (the "Date of Grant")
• HK$3.420 per Share, which represents the highest of :-
• 1. the closing price of the Shares, being HK3.420 as stated in the daily quotation sheets of the Stock Exchange on the Date of Grant; and
  2. the average closing price of the Shares, being HK$3.288, as stated in the daily quotation sheets of the Stock Exchange for five consecutive business days immediately preceding the Date of Grant.
• 22,538,300 Share Options
• HK$3.420 per Share

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Validity period of the Share Options	:	The Share Options are valid for a period of
		10 years from 27 December 2019 to 26
		December 2029 (both days inclusive).
Vesting date of the Share Options	:	Among the 22,538,300 Share Options, the
		vesting date is as follows:-
		(i) 11,269,150 of which will vest on 1
		January 2021.
		(ii) 11,269,150 of which will vest on 1
		January 2022.

None of the Grantees is a director, chief executive or substantial shareholder of the Company or any of their respective associates (as defined in the Listing Rules).

By Order of the Board

Hong Kong Television Network Limited

Wong Wai Kay, Ricky

Chairman

Hong Kong, 27 December 2019

As at the date of this announcement, the executive Directors of the Company are Mr. Wong Wai Kay, Ricky (Chairman), Mr. Cheung Chi Kin, Paul (Vice Chairman and Chief Executive Officer), Ms. Wong Nga Lai, Alice (Chief Financial Officer), Mr. Lau Chi Kong (Chief Operating Officer) and Ms. Zhou Huijing and the independent non- executive Directors are Mr. Lee Hon Ying, John, Mr. Peh Jefferson Tun Lu and Mr. Mak Wing Sum, Alvin.

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