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.

GROUND INTERNATIONAL DEVELOPMENT LIMITED

廣澤國際發展有限公司

(Incorporated in Bermuda with limited liability)

(Stock Code: 989) LAPSE OF THE MEMORANDUM OF UNDERSTANDING IN RELATION TO PROPOSED CAPITAL INJECTION IN A TARGET COMPANY

Reference is made to the announcements of Ground International Development Limited (the "Company", together with its subsidiaries, the "Group") dated 31 March 2017 and 4 July 2017 (collectively the "Announcements") in relation to, among other matters, the memorandum of understanding dated 31 March 2017 entered into between the Group and 長春歐亞神龍灣旅 遊有限責任公司 (Changchun Ouya Shenlongwan Tourism Limited Liability Company*) in relation to a proposed capital injection (as supplemented by the supplemental letter to the

memorandum of understanding dated 4 July 2017 ( the "MOU")). Unless otherwise expressly indicated, capitalised terms used herein shall have the same meaning as those defined in the Announcements.

The Board wishes to announce that since a formal investment agreement has not been entered into between the parties to the MOU by the end of the Exclusivity Period, i.e., 30 September 2017, the MOU had lapsed and ceased to have any effect. Upon lapse of the MOU, the Company has no obligation to proceed with the Proposed Capital Injection.

Directors of the Company are of the view that the lapse of the MOU has no material adverse impact on the existing business operation and financial position of the Group as a whole.

Hong Kong, 3 October 2017

By order of the Board

Ground International Development Limited Chai Xiu

Chairperson

As at the date of this announcement, the executive directors of the Company are Ms. Chai Xiu, Ms. Cui Xintong, Mr. Wang Guanghui and Mr. Huang Bingxing; and the independent non-executive directors of the Company are Mr. Chan Yuk Tong, Mr. Mei Jianping and Mr. Xiang Qiang.

*for identification purpose only

Ground International Development Limited published this content on 03 October 2017 and is solely responsible for the information contained herein.
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