Microsoft Word - Signing Announcement

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 liabilities whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

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(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 2314)

CHAIRMAN AND CEO TO INCREASE STAKE IN LEE & MAN PAPER MANUFACTURING LIMITED (the "Company")

On 1 June 2015, Mr Lee Man Chun Raymond (Chairman of the Company) and Mr Lee Man Bun (CEO of the Company), through their wholly-owned companies, entered into agreements to acquire 200,000,000 shares in the Company from a subsidiary of Nippon Paper Industries Co., Ltd. (formerly Nippon Paper Group, Inc. and hereafter referred to as "Nippon Paper"). The aggregate consideration is HK$800 million, representing HK$4.00 per share. Completion of the acquisition is expected to take place on 12 June 2015. Subsequent to this acquisition, the personal and corporate shareholding of each of Mr Lee Man Chun Raymond and Mr Lee Man Bun in the Company will be 8.49% and 4.13% respectively. The aggregate shareholding of the Lee Family will be 67.18%. References to the "Lee Family" include Mr Lee Wan Keung Patrick, Mr Lee Man Chun Raymond and Mr Lee Man Bun.
Nippon Paper is one of the largest pulp and paper manufacturers in Japan with a diverse range of products, which includes paper, paperboard, household paper products, and specialty and high-performance products. Nippon Paper will ultimately remain a shareholder of the company with a stake of 201,015,679 shares, representing 4.32% of the Company.
By order of the Board

Lee & Man Paper Manufacturing Limited Lee Man Chun Raymond Chairman

Hong Kong, 1 June 2015
As at the date of this announcement, the board of directors of the Company comprises three executive directors, namely Mr Lee Man Chun Raymond, Mr Lee Man Bun, and Mr Li King Wai Ross, one non-executive director, namely Professor Poon Chung Kwong, and three independent non-executive directors, namely Mr Wong Kai Tung Tony, Mr Peter A Davies and Mr Chau Shing Yim David.
* For identification purposes only

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