Keyne : ANNOUNCEMENT PURSUANT TO RULE 3.7 OF THE TAKEOVERS CODE

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

KEYNE LTD

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(formerly known as Nine Express Limited)

(incorporated in Bermuda with limited liability)

(Stock Code: 00009)

ANNOUNCEMENT PURSUANT TO RULE 3.7 OF THE TAKEOVERS CODE

References are made to the announcements (the "R3.7 Announcements") of KEYNE LTD (the "Company") dated 18 January 2021, 16 February 2021 and 15 March 2021 in relation to, among other things, the possible offer in light of the appointment of receivers over all the issued shares of Keyne Holdings Limited (the "Keyne Holdings"), the controlling shareholder of the Company which holds approximately 58.10% of the issued shares in the Company. Unless otherwise defined, terms used herein shall have the same meanings as those defined in the R3.7 Announcements.

The Company has been informed by Keyne Holdings that its shareholder has reached consensus on the debt restructuring proposal with the lender, and the lender has agreed to terminate the appointment of receivers over all the issued shares of Keyne Holdings with effect from 29 March 2021. For the purpose of the Takeovers Code, the offer period in respect of the appointment of receivers is closed as at the date of this announcement.

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

By order of the Board

KEYNE LTD

ZHANG LI

Executive Director and Chief Executive Officer

Hong Kong, 1 April 2021

As at the date of this announcement, the Board comprises six Directors. The executive Directors are Ms. Qian Ling Ling (Chairman), Mr. Zhang Li (Chief Executive Officer) and Mr. Xiang Junjie; and the independent non-executive Directors are Mr. Tsui Pui Hung, Mr. Tang Ping Sum and Mr. Chiu Sin Nang, Kenny.

* for identification purpose only

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The Directors jointly and severally accept full responsibility for the accuracy of information contained in this announcement, and confirm, having made all reasonable inquiries, that to the best of their knowledge, opinions expressed in this announcement have been arrived at after due and careful consideration and there are no other facts not contained in this announcement, the omission of which would make any statement in this announcement misleading.

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