Allied : Joint Announcement - Proposed Privatisation of SHK IND by the Offeror by way of a Scheme of Arrangement (under Section 673 of the Companies Ordinance) in the form of a Takeover Offer (1) Effective Date of the Scheme (2) Despatch of Cheques under the Proposal and (3) Withdrawal of Listing of SHK IND Shares

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this joint 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 joint announcement.

This joint announcement appears for information purposes only and does not constitute, or form part of, any offer to purchase or subscribe for or an invitation to purchase or subscribe for any securities of the Offeror, AGL and SHK IND or the solicitation of any vote or approval in any jurisdiction, nor shall there be any sale, issuance or transfer of securities of SHK IND in any jurisdiction in contravention of applicable law. This joint announcement is not for release, publication or distribution in or into any jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction.

ALLIED GROUP LIMITED （聯 合 集 團 有 限 公 司）

The Offeror

BRIGHT CLEAR LIMITED

• 晴 輝 有 限 公 司)

(Incorporated in the British Virgin Islands with limited liability)

JOINT ANNOUNCEMENT

PROPOSED PRIVATISATION OF SHK IND

BY THE OFFEROR

BY WAY OF A SCHEME OF ARRANGEMENT

(UNDER SECTION 673 OF THE COMPANIES ORDINANCE)

IN THE FORM OF A TAKEOVER OFFER

1. 1. EFFECTIVE DATE OF THE SCHEME
2. DESPATCH OF CHEQUES UNDER THE PROPOSAL AND
3. WITHDRAWAL OF LISTING OF SHK IND SHARES

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References are made to (i) the scheme document dated 11th February, 2021 (the "Scheme Document") jointly issued by SHK Hong Kong Industries Limited ("SHK IND"), Allied Group Limited ("AGL") and Bright Clear Limited (the "Offeror") in relation to, among other things, the proposed privatisation of SHK IND by way of a scheme of arrangement under section 673 of the Companies Ordinance (Chapter 622 of the Laws of Hong Kong) in the form of a takeover offer; (ii) the joint announcement dated 12th March, 2021 jointly issued by SHK IND, AGL and the Offeror in relation to, among other things, the results of the Court Meeting and the General Meeting; and (iii) the joint announcement dated 20th April, 2021 jointly issued by SHK IND, AGL and the Offeror in relation to, among other things, the sanction of the Scheme by the High Court (the "Previous Announcements"). Capitalised terms used herein shall have the same meanings as they were defined in the Scheme Document and the Previous Announcements unless the context otherwise specified.

EFFECTIVE DATE OF THE SCHEME

An office copy of the order of the High Court made on Tuesday, 20th April, 2021 sanctioning the Scheme (without modification) and confirming the Capital Reduction under section 229 of the Companies Ordinance, the minute (approved by the High Court) and the return containing particulars required under section 230 of the Companies Ordinance were registered by the Registrar of Companies on Thursday, 22nd April, 2021.

All of the Conditions as set out in the Scheme Document were fulfilled and the Scheme became effective on Thursday, 22nd April, 2021.

DESPATCH OF CHEQUES UNDER THE PROPOSAL

Cheques for payment of the Scheme Consideration will be despatched to the Scheme Shareholders as soon as possible but in any event within 7 business days following the Effective Date, being Monday, 3rd May, 2021.

WITHDRAWAL OF THE LISTING OF SHK IND SHARES

The listing of SHK IND Shares on the Stock Exchange will be withdrawn at 9:00 a.m. on Friday, 23rd April, 2021.

Hong Kong, 22nd April, 2021

As at the date of this joint announcement, the AGL Board comprises Messrs. Lee Seng Hui (Chief Executive), Edwin Lo King Yau and Mak Pak Hung being the Executive Directors, Mr. Arthur George Dew (Chairman) and Ms. Lee Su Hwei being the Non-Executive Directors, and Mr. David Craig Bartlett, Mr. Alan Stephen Jones, Ms. Lisa Yang Lai Sum and Mr. Kelvin Chau Kwok Wing being the Independent Non-Executive Directors.

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The AGL Directors jointly and severally accept full responsibility for the accuracy of the information contained in this joint announcement (other than that relating to the SHK IND Group) and confirm, having made all reasonable enquiries, that to the best of their knowledge, opinions expressed in this joint announcement (other than opinions expressed by the directors of SHK IND in their capacity as such) have been arrived at after due and careful consideration and there are no other facts not contained in this joint announcement, the omission of which would make any statement in this joint announcement misleading.

As at the date of this joint announcement, the directors of the Offeror are Messrs. Edwin Lo King Yau and Kelvin Lam Kam Wing.

The directors of the Offeror jointly and severally accept full responsibility for the accuracy of the information contained in this joint announcement (other than that relating to the SHK IND Group and AGL) and confirm, having made all reasonable enquiries, that to the best of their knowledge, opinions expressed in this joint announcement (other than opinions expressed by the respective directors of SHK IND and AGL in their capacity as such) have been arrived at after due and careful consideration and there are no other facts not contained in this joint announcement, the omission of which would make any statement in this joint announcement misleading.

As at the date of this joint announcement, the composition of the SHK IND Board is as follows: Mr. Warren Lee Wa Lun (Chairman) and Mr. Mark Wong Tai Chun are Executive Directors; Mr. Arthur George Dew is Non-Executive Director; and Mr. Albert Ho, Mr. Peter Lee Yip Wah and Mr. Louie Chun Kit are Independent Non-Executive Directors.

The SHK IND Directors jointly and severally accept full responsibility for the accuracy of the information contained in this joint announcement (other than that relating to AGL and the Offeror) and confirm, having made all reasonable enquiries, that to the best of their knowledge, opinions expressed in this joint announcement (other than opinions expressed by the respective directors of AGL and the Offeror in their capacity as such) have been arrived at after due and careful consideration and there are no other facts not contained in this joint announcement, the omission of which would make any statement in this joint announcement misleading.

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