AID Life Science : DISCLOSEABLE TRANSACTION DISPOSAL OF LISTED SECURITIES

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AID Life Science Holdings Limited

（ 滙 友 生 命 科 學 控 股 有 限 公 司 ）

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(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 8088)

DISCLOSEABLE TRANSACTION DISPOSAL OF LISTED SECURITIES

On 4 December 2018, the Group disposed on-market of a total of 410,000,000 HMV Shares in a series of transactions at the average price of approximately HK$0.02415 per HMV Share for an aggregate gross sale proceeds of approximately HK$9,900,000 (excluding transaction costs).

The Disposal constitutes a discloseable transaction of the Company as one of the applicable percentage ratios exceeds 5% but is less than 25%, and is therefore subject to the reporting and announcement requirements under the GEM Listing Rules.

THE DISPOSAL

On 4 December 2018, the Group disposed on-market of a total of 410,000,000 HMV Shares in a series of transactions at the average price of approximately HK$0.02415 per HMV Share for an aggregate gross sale proceeds of approximately HK$9,900,000 (excluding transaction costs).

As the Disposal was made on the market, the Company is not aware of the identities of the purchasers of the HMV Shares. To the best of the knowledge, information and belief of the Directors, having made all reasonable enquiries, each of the purchasers of the HMV Shares and their ultimate beneficial owners are third parties independent of the Company and its connected persons.

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For identification purpose only

Assets disposed of

The Group disposed of a total of 410,000,000 HMV Shares, representing approximately 3.02% of the issued share capital of HMV based on the 13,598,568,971 HMV Shares in issue as at 3 December 2018 according to the Next Day Disclosure Return of HMV dated 3 December 2018. Before the Disposal, the Group held a total of 2,804,938,356 HMV Shares. After the Disposal, the Group holds a total of 2,394,938,356 HMV Shares.

Consideration

The aggregate gross sale proceeds of the Disposal is approximately HK$9,900,000 (excluding transaction costs), which is receivable in cash on settlement, being the second business day after the date of Disposal. The consideration for the Disposal represented the market price of the HMV Shares at the time of the Disposal.

INFORMATION OF HMV

HMV is a company incorporated in Bermuda with limited liability whose shares are listed on GEM of the Stock Exchange (stock code: 8078). HMV is an investment holding company and its subsidiaries are principally engaged in the distribution and production of films, television programs and music production, artiste management services, retail and on-line video streaming businesses.

The following information is extracted from the 2017-2018 annual report of HMV:

The Group is engaged in the business of strategic investment.

The Board having noted the unusual plunge in the trading price of HMV Shares during the morning trading session on 4 December 2018 decided to sell part of the HMV Shares to cut losses in order to limit a potential loss should the price of the HMV Shares fall further. As a result of the Disposal, the Group is expected to recognise a loss of approximately HK$77,430,000 which is calculated on the basis of the difference between the market value on 30 September 2018 (last quarterly report published on 12 November 2018) and the disposal price (exclusive of transaction costs) of the HMV Shares. The net proceeds of the Disposal will be applied as the Group's general working capital.

The Disposal was made at market price and the Board is of the view that the Disposal will enhance the liquidity of the Company and was fair and reasonable and is on normal commercial terms and is in the interests of the Company and the Shareholders as a whole.

IMPLICATION UNDER THE LISTING RULES

As one of the applicable percentage ratios (as defined in the GEM Listing Rules) in respect of the Disposal is more than 5% but less than 25%, the Disposal constitutes a discloseable transaction of the Company under the GEM Listing Rules and is therefore subject to the reporting and announcement requirements under the GEM Listing Rules.

DEFINITIONS

In this announcement, unless the context otherwise requires, the following terms shall have the following meanings:

AID Life Science Holdings Limited

Wu King Shiu Kelvin Chairman and Chief Executive Officer

As at the date of this announcement, the Board comprises four executive Directors, namely Wu King Shiu, Kelvin, Chan Suet Ngan, Hu Kenneth and Qian Alexandra Gaochuan; one non-executive Director, namely Xu Haohao; and three independent non-executive Directors, namely Fong Janie, Yuen Kwok On and Matsumoto Hitoshi.

This announcement, for which the Directors collectively and individually accept full responsibility, includes particulars given in compliance with the GEM Listing Rules for the purpose of giving information with regard to the Company. The Directors, having made all reasonable enquiries, confirm that, to the best of their knowledge and belief (i) the information contained in this announcement is accurate and complete in all material respects and not misleading or deceptive; and (ii) there are no other matters the omission of which would make any statement in this announcement misleading.

This announcement will remain on the GEM website atwww.hkgem.comon the ''Latest Company Announcements'' page for at least 7 days from the date of its posting and on the website of the Company atwww.8088inc.com.