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Chu Kong Shipping Enterprises (Group) Co., Ltd.

(Incorporated in Hong Kong with limited liability)

(Stock Code : 00560) VOLUNTARY ANNOUNCEMENT Proposed Adoption of Share Option Scheme

The board of directors (the "Board") of Chu Kong Shipping Enterprises (Group) Co., Ltd. (the "Company") is pleased to announce that, in order to effectively motivate and retain the senior officers and key employees of the Company and its subsidiaries, and to align the interests of the incentive participants with that of the shareholders of the Company (the "Shareholders"), on 19 August 2015, the Board approved to propose a share option scheme (the "Share Option Scheme") at a general meeting, which will be served as a long-term incentive mechanism to supplement its existing remuneration system. The Board has further resolved to file the Share Option Scheme to relevant regulatory authorities for review and record purposes (if necessary), and to convene a general meeting to approve the Share Option Scheme.
The Share Option Scheme shall be administered by the Board. The term of the Share Option Scheme shall be ten years commencing on the date of its adoption, subject to early termination as may be determined by the Board. The Board may, from time to time, at its absolute discretion select any qualified incentive participants to participate in the Share Option Scheme, and determine the terms and conditions of the grant as well as the number of share options to be granted.
The Board will convene a general meeting for the purpose of (among other things) seeking the approval from the Shareholders for the adoption of the Share Option Scheme, and authorising the Board to grant share options pursuant to the Share Option Scheme, and to allot and issue the shares of the Company pursuant to the exercise of the share options.
A circular containing (among other things) details of the Share Option Scheme will be despatched to the Shareholders as soon as practicable in accordance with the requirements of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.
By order of the Board

Chu Kong Shipping Enterprises (Group) Co., Ltd. Xiong Gebing

Chairman

Hong Kong, 19 August 2015

As at the date of this announcement, the Board comprises Mr. Xiong Gebing, Mr. Zeng He and Mr. Cheng Jie as executive directors; Mr. Zhang Lei as non-executive director; and Mr. Chan Kay-cheung, Ms. Yau Lai Man and Mr. Chow Bing Sing as independent non-executive directors.

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