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.

JIANGNAN GROUP LIMITED 江南集團有限公司

(incorporated in the Cayman Islands with limited liability)

(Stock code: 1366)

SHARE PURCHASE PURSUANT TO SHARE AWARD SCHEME

Reference is made to the announcement of Jiangnan Group Limited (the ''Company'') dated 9 September 2015 (the ''Announcement'') in relation to the adoption of the share award scheme (the ''Scheme'') by the board of directors of the Company (the ''Board''). Unless otherwise defined herein, capitalised terms used in this announcement shall have the same meanings as defined in the Announcement.

Following the Company's instruction, the Trustee used the cash of the Scheme and purchased an aggregate of 1,000,000 Shares of the Company's existing Shares on the market for the purpose of the Scheme. Details of the purchase and the latest information about the Shares held by the Trustee are as follows:

Trade date:

14 June 2017

Settlement date:

16 June 2017

Total number of Shares purchased:

1,000,000

Percentage of issued share capital of the Company as of the date of this announcement:

0.025%

Average consideration per Share:

HK$0.70

Total consideration:

HK$702,153.90

Balance of number of Shares held by the Trustee:

  • prior to the purchase

  • immediately after the purchase

39,171,000 Shares

40,171,000 Shares

As at the date of this announcement, 35,300,000 Shares have been granted under the Scheme and 9,325,000 Shares have been vested under the Scheme to the Selected Employees. The Board will constantly review and decide at its discretion, with reference to the financial resources available for the Scheme, the total number of Shares to be purchased and to be awarded to the Selected Employees in respect of each year.

On behalf of the Board Jiangnan Group Limited Chu Hui

Chairman

14 June 2017

As at the date of this announcement, the Board comprises four executive directors, namely Mr. Chu Hui, Ms. Xia Yafang, Mr. Jiang Yongwei and Mr. Hao Minghui; and three independent non-executive directors, namely Mr. He Zhisong, Mr. Yang Rongkai and Mr. Poon Yick Pang Philip.

Jiangnan Group Ltd. published this content on 14 June 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 14 June 2017 11:39:04 UTC.

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