SMI Culture & Travel : Announcements and Notices - Voluntary Announcement - Termination of the Possible Acquisition

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SMI Culture & Travel Group Holdings Limited ݋ߕ˖ʷ༷ࣚණྠછٰϞࠢʮ̡

(Incorporated in the Cayman Islands and continued in Bermuda with limited liability)

(Stock code: 2366)

VOLUNTARY ANNOUNCEMENT TERMINATION OF THE POSSIBLE ACQUISITION

This announcement is made by the Company on a voluntary basis.

Reference is made to the announcement of the Company dated 14 December 2017 in relation to the entering into of a memorandum of understanding regarding the Possible Acquisition (the "Announcement"). Unless the context otherwise requires, capitalised terms used in this announcement shall have the same meanings as those defined in the Announcement.

The Company wishes to inform its shareholders and potential investors that due to the Company's commercial considerations and arrangements, the Company has decided to terminate the memorandum of understanding and thus not to proceed with the Possible Acquisition. The Board considers that the termination of the Possible Acquisition has no material adverse impact on the business operation and financial position of the Group. The Company will continue to seek opportunities in its business development and explore suitable acquisition opportunities.

Shareholders and potential investors are advised to exercise caution when dealing in the securities of the Company.

By Order of the Board

SMI Culture & Travel Group Holdings Limited

HUANG Zhengchao

Executive Director

Hong Kong, 26 January 2018

As at the date of this announcement, the executive Directors are Mr. WU Chien-Chiang (Chairman), Mr. YUAN Xin, Mr. KONG Dalu, Ms. YAO Qinyi and Mr. HUANG Zhengchao; and the independent non-executive Directors are Mr. RAO Yong, Mr. LIU Xianbo and Mr. ZHAO Xuebo.