Planetree International Development : COMPLETION OF MAJOR TRANSACTION IN RELATION TO THE SUBSCRIPTION OF SHARES IN LIBERTY CAPITAL LIMITED

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PLANETREE INTERNATIONAL DEVELOPMENT LIMITED

梧 桐 國 際 發 展 有 限 公 司

(Incorporated in Bermuda with limited liability)

(Stock code: 00613)

COMPLETION OF MAJOR TRANSACTION

IN RELATION TO

THE SUBSCRIPTION OF SHARES IN LIBERTY CAPITAL LIMITED

Reference is made to the circular of the Company dated 31 October 2019 (the "Circular") in respect of a major transaction in relation to the subscription of new shares in Liberty Capital Limited. Unless otherwise defined herein, capitalised terms used herein shall have the same meanings as those defined in the Circular.

The Board is pleased to announce that with all the conditions precedent of the Conditional Subscription Agreement having been fulfilled following the Company's recent receipt of the SFC's notice of approval for the Company to become a substantial shareholder of the Target Group, the Subscription has been completed on 12 December 2019.

Following the Completion, the Company is currently holding 2,000 shares in Liberty Capital Limited which represent approximately 52.63% of the issued share capital of Liberty Capital Limited as at the date of this announcement. Liberty Capital Limited and its subsidiaries have now become non- wholly owned subsidiaries of the Company.

By order of the Board

Planetree International Development Limited

Cheung Ka Yee

Executive Director

Hong Kong, 12 December 2019

As at the date of this announcement, the Board comprises the following directors: