South Sea Petroleum : CHANGE OF COMPANY NAME, CHANGE OF STOCK SHORT NAME AND CHANGE OF COMPANY WEBSITE

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 disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

ELATE HOLDINGS LIMITED

誼礫控股有限公司

(Incorporated in Hong Kong with limited liability)

(Stock Code: 076)

CHANGE OF COMPANY NAME

CHANGE OF STOCK SHORT NAME

AND

CHANGE OF COMPANY WEBSITE

The Board is pleased to announce that the name of the Company has been changed from "South Sea Petroleum Holdings Limited 南海石油控股有限公司" to "Elate Holdings Limited 誼礫控股有限公司" with effect from 23 October 2019.

With effect from 9:00 a.m. on 1 November 2019, the stock short name for trading in the Shares on the Stock Exchange will be changed from "SOUTH SEA PETRO" to "ELATE HOLDINGS" in English and from "南海石油" to "誼礫控股" in Chinese.

The stock code of the Company remains unchanged as "76".

The website of the Company will be changed from "www.southseapetro.com.hk" to "www.elate.hk" with effect from 1 November 2019.

Reference is made to the announcement and the circular of Elate Holdings Limited (formerly known as South Sea Petroleum Holdings Limited) (the "Company") dated 9 September 2019 (the "Circular") in relation to, among other things, the Proposed Change of the Company Name. Unless otherwise defined, capitalised terms used herein shall have the same meanings as those defined in the Circular.

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CHANGE OF COMPANY NAME

The board of directors (the "Board") of the Company is pleased to announce that subsequent to the passing of a special resolution by the Shareholders at the annual general meeting held on 16 October 2019 approving the Change of the Company Name, the Certificate of Change of Name was issued by the Registrar of Companies of Hong Kong on 23 October 2019. Accordingly, the name of the Company has been changed from "South Sea Petroleum Holdings Limited 南海石油控股有限公司" to "Elate Holdings Limited 誼 礫控股有限公司" with effect from 23 October 2019.

CHANGE OF STOCK SHORT NAME

With effect from 9:00 a.m. on 1 November 2019, the stock short name for trading in the Shares on the Stock Exchange will be changed from "SOUTH SEA PETRO" to "ELATE HOLDINGS" in English and from "南海石油" to "誼礫控股" in Chinese. The stock code of the Company remains unchanged as "76".

EFFECTS OF THE CHANGE OF COMPANY NAME

The Change of the Company Name will not affect any rights of the holders of the Shares of the Company. All existing share certificates in issue bearing the name of South Sea Petroleum Holdings Limited, after the Change of the Company Name becoming effective, continue to be evidence of legal title to such Shares and the existing Share certificates will continue to be valid for trading, settlement, registration and delivery purposes. With effect from 1 November 2019, new share certificates will be issued in the name of Elate Holdings Limited.

CHANGE OF COMPANY WEBSITE

The website of the Company will be changed from "www.southseapetro.com.hk" to "www.elate.hk" with effect from 1 November 2019.

By order of the Board of

Elate Holdings Limited

Vivian Lam

Company Secretary

Hong Kong, 29 October 2019

As at the date of this announcement, the board of directors comprises of Mr. Feng Zhong Yun and Ms. Zhang Xue being executive directors; Mr. Han Zhi Jun, Mr. Lu Ren Jie, Mr. Chai Woon Chew and Mr. Ng Lai Po being independent non-executive directors.

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