Lai Sun Garment International : SUPPLEMENTAL JOINT ANNOUNCEMENT - AMENDMENTS TO THE THEORETICAL EX-RIGHTS PRICE

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this joint 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 joint announcement.

This joint announcement appears for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for the securities of the Company or LSG.

Lai Sun Development Company Limited

(Incorporated in Hong Kong with limited liability)

(Stock Code: 488)

SUPPLEMENTAL JOINT ANNOUNCEMENT

AMENDMENTS TO THE THEORETICAL EX-RIGHTS PRICE

Reference is made to the joint announcement of the Company and LSG dated 12 August 2021 (the "Announcement") in relation to the proposed rights issue on the basis of one (1) Rights Share for every two (2) existing Shares held by the Qualifying Shareholders on the Record Date. Unless otherwise defined, terms used herein shall have the same meanings as those set out in the Announcement.

The board (the "Board") of directors of the Company wishes to clarify that based on the number of Shares in issue as at the date of the Announcement as enlarged by the Subscription Shares, the theoretical ex-rights price is approximately HK$5.72 per Share (instead of HK$5.61 per Share as set out in the Announcement, which was calculated based on the total number of issued Shares as at the date of the Announcement).

As such, certain disclosure on page 11 of the Announcement shall read as follows (with amendments underlined):

As such, the Subscription Price represents:

…

1. a discount of approximately 40.0%to the theoretical ex-rights price of approximately HK$5.72per Share, based on the closing price of HK$6.86 per
   Share as quoted on the Stock Exchange on the Last Trading Day and number of Shares in issue as at the date of this joint announcement as enlarged by the Subscription Shares;

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…

1. a theoretical dilution effect (as defined under Rule 7.27B of the Listing Rules) of approximately 16.6%, represented by the theoretical diluted price of approximately HK$5.72per Share to the benchmarked price (as defined under
   Rule 7.27B of the Listing Rules, taking into account the closing price on the Last Trading Day of HK$6.86 per Share and the average of the closing prices of the Shares as quoted on the Stock Exchange for the five previous consecutive trading days prior to the date of this joint announcement of approximately HK$6.80 per Share) of approximately HK$6.86 per Share.

Save as disclosed in this joint announcement, all information set out in the Announcement remains unchanged.

By order of the Board	By order of the Board
Lai Sun Garment (International) Limited	Lai Sun Development Company Limited
Chew Fook Aun	Chew Fook Aun
Executive Director and Deputy Chairman	Executive Director and Deputy Chairman
Hong Kong, 19 August 2021
As at the date of this joint announcement:

1. the board of directors of LSG comprises five executive directors, namely Dr. Lam Kin Ngok, Peter (Chairman), Mr. Chew Fook Aun (Deputy Chairman), Madam U Po Chu, Mr. Lam Kin Hong, Matthew and Mr. Lam Hau Yin, Lester (also alternate to Madam U Po Chu); and three independent non-executive directors, namely Messrs. Leung Shu Yin, William, Lam Bing Kwan and Chow Bing Chiu; and
2. the Board comprises five executive Directors, namely Dr. Lam Kin Ngok, Peter (Chairman) and Messrs. Chew Fook Aun (Deputy Chairman), Lau Shu Yan, Julius (Chief Executive Officer), Lam Hau Yin, Lester
   (also alternate to Madam U Po Chu) and Tham Seng Yum, Ronald; one non-executive Director, namely Madam U Po Chu; and four independent non-executive Directors, namely Messrs. Lam Bing Kwan, Leung Shu Yin, William, Ip Shu Kwan, Stephen and Leung Wang Ching, Clarence.

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