Silver Base : Announcements and Notices - - TERMINATION OF ACQUISITION AGREEMENT

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This announcement appears for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for any securities of the Company.

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 886)

TERMINATION OF ACQUISITION AGREEMENT

Reference is made to the announcement of the Company dated 26 April 2018 (the "Announcement") in relation to, among other matters, the entering into the Acquisition Agreement by the Vendor and Purchaser. Definitions and terms used in this announcement, unless the context required otherwise, shall bear the same meaning as defined in the Announcement.

As the Company and Mr. Chen could not reach a consensus in the negotiation on the adjustment of the Consideration Shares for Performance Period I, the parties agreed to mutually terminate the Acquisition Agreement. Accordingly, on 9 August 2019, the Vendor and Purchaser entered into a termination agreement (the "Termination Agreement") to terminate the Acquisition Agreement. Pursuant to the Termination Agreement, all antecedent obligations and liabilities of the parties under the Acquisition Agreement shall be absolutely discharged and released in all aspects with immediate effect and neither the Vendor nor the Purchaser would have any claim against the other under the Acquisition Agreement.

The Company is of the view that the termination of the Acquisition Agreement will have no material adverse impact on the financial position and business operations of the Company.

By the Order of the Board

Silver Base Group Holdings Limited

Liang Guoxing

Chairman

Hong Kong, 9 August 2019

As at the date of this announcement, the Board comprises Mr. Liang Guoxing (Chairman), Mr. Yan Jun (Chief Executive Officer) and Ms. Chen Xiaoxu as executive Directors; Mr. Wu Jie Si and Mr. Chen Sing Hung Johnny as non-executive Directors; and Mr. Hung Sui Kwan, Mr. Ma Lishan and Mr. Lee Kwok Keung Edward as independent non-executive Directors.