Chu Kong Ptrlm&Ntrl Gs Stl Pipe Hldg : FURTHER DELAY IN DESPATCH OF CIRCULAR REGARDING VERY SUBSTANTIAL DISPOSAL IN RELATION TO THE LAND RESUMPTION

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CHU KONG PETROLEUM AND NATURAL GAS STEEL PIPE HOLDINGS LIMITED

珠江石油天然氣鋼管控股有限公司

(incorporated in the Cayman Islands with limited liability)

(Stock code: 1938)

FURTHER DELAY IN DESPATCH OF CIRCULAR REGARDING

VERY SUBSTANTIAL DISPOSAL IN RELATION TO

THE LAND RESUMPTION

Reference is made to the announcements of Chu Kong Petroleum and Natural Gas Steel Pipe Holdings Limited (the "Company") dated 20 June 2019 and 31 July 2019 (the "Announcements") regarding the entering into of the Land Resumption Compensation Agreement for the sale of the Land of Phase III GDC, which constitutes a very substantial disposal of the Company. Capitalised terms used herein shall have the same meanings as those defined in the Announcements unless otherwise stated.

As stated in the Announcements, a circular containing, inter alia, full details of the Land Resumption (the "Circular") was expected to be despatched to the Shareholders by no later than 30 August 2019. As additional time is required to prepare and finalise certain information to be included in the Circular, it is expected that the despatch date of the Circular will be further postponed to a date on or before 30 September 2019.

By order of the Board

Chu Kong Petroleum and Natural Gas

Steel Pipe Holdings Limited

Chen Chang

Chairman

Guangdong Province, the PRC, 30 August 2019

As at the date of this announcement, the Board comprises three executive directors, namely Mr. Chen Chang, Ms. Chen Zhao Nian and Ms. Chen Zhao Hua; and three independent non-executive directors, namely Mr. Chen Ping, Mr. See Tak Wah and Mr. Tian Xiao Ren.