General FAQ

1. On which stock exchange are the shares of Li Ning Company Limited listed?

The shares of Li Ning Company Limited are listed on the Main Board of The Stock Exchange of Hong Kong Limited ('SEHK'). You may refer to the Investor Relations section for further information.

2. What is Li Ning Company Limited's stock code?

The stock code on the SEHK is 2331.

3. When did the dealings in the shares of Li Ning Company Limited commence on the SEHK?

The shares of Li Ning Company Limited were admitted to commence dealings on the Main Board of the SEHK from 28 June 2004.

4. What is the board lot size of Li Ning Company Limited's stock?

The board lot size is 500 shares.

5. Who is Li Ning Company Limited's Principal Share Registrar and Transfer Office?

Royal Bank of Canada Trust Company (Cayman) Limited.

6. Who is Li Ning Company Limited's Share Registrar and Transfer Office in Hong Kong?

Computershare Hong Kong Investor Services Limited.

7. Where is Li Ning Company Limited's Principal Place of Business in Hong Kong?

Suites 1,7-15, L45, Office Tower, Langham Place, 8 Argyle Street, Mongkok, Kowloon, Hong Kong.

FAQ for the Open Offer

* Unless otherwise stated, capitalized terms used herein shall have the meanings as defined in the Company's prospectus dated 9 January 2015 in relation to the proposed Open Offer.

Timetable

1. What are the key dates that I should take note of?

For the purpose of the Open Offer, the expected key dates are set out in the following:

Event Date and time
Last day of dealings in the Shares on a cum-entitlement basis for the Open Offer Wednesday, 31 December 2014
First day of dealings in Shares on an ex-entitlement basis for the Open Offer Friday, 2 January 2015
Latest time for lodging transfers of Shares in order to qualify for the Open Offer 4:30 pm on Monday, 5 January 2015
Register of members to be closed Tuesday, 6 January 2015 to Thursday, 8 January 2015 (both days inclusive)
Record date for the Open Offer ("Record Date") Thursday, 8 January 2015
Register of members to be re-opened Friday, 9 January 2015
Prospectus, Application Forms ("AFs") and Excess Application Forms ("EAFs") to be despatched Friday, 9 January 2015
Acceptance period of the Open Offer 12 January 2015 to 23 January 2015
Latest time for acceptance of and payment for Offer Securities and application for excess Offer Securities 4:00 pm on Friday, 23 January 2015
Announcement of allotment results Friday, 30 January 2015
Certificates for Offer Securities and refund cheques to be despatched Monday, 2 February 2015
First day of dealing in new Ordinary Shares 9:00 a.m. on Tuesday, 3 February 2015
2. Will such timetable be changed? How do I receive the news on the latest timetable?

The latest timetable for the Open Offer has been set out in the Company's announcement dated 16 December 2014 and item 1 in FAQ for the Open Offer as set out above. Dates or times specified in the latest timetable are indicative only and may be varied by agreement between the Company and the Underwriters.

Any consequential changes to the latest expected timetable will be published by the Company by way of announcement on the HKExnews website and Company's own website.

Eligibility to participate in the Open Offer

3. How could I find out whether I am eligible to participate in the Open Offer?

In order to participate in the Open Offer, a Shareholder must be registered as a member of the Company at the close of business on the Record Date (8 January 2015).

You also need to ascertain whether you are a "Qualifying Shareholder". If, at the close of business on the Record Date, your address on the register of members of the Company is in an excluded overseas jurisdiction or at that time you are known by the Company to be resident in an excluded jurisdiction, you will NOT be eligible to take part in the Open Offer.

The Prospectus (which is expected to be despatched on 9 January 2015) will also set out the overseas jurisdictions which will be excluded from the Open Offer and the basis thereof. The Company will only exclude jurisdictions to which the Company considers it unnecessary or inexpedient to extend the Open Offer, on account either of legal restrictions under the laws of relevant place or the requirements of the relevant regulatory body or stock exchange in that jurisdiction. The Shareholders in those jurisdictions will not be "Qualifying Shareholders" and cannot participate in the Open Offer, and they will not be compensated by the Company. Also, you will only receive the Prospectus (if permitted under relevant laws) for information only but you will not receive the AF and the EAF.

If you are a "Qualifying Shareholder" and hold your Shares as a registered member on the Record Date, you will receive the Prospectus, the AF and EAF by ordinary post from the Company's Hong Kong Share Registrar, Computershare Hong Kong Investor Services Limited ("Computershare") (expected to be on 9 January 2015).

If you are a "Qualifying Shareholder" and own interest in the Shares through a CCASS clearing participant, nominee, custodian or other intermediary or as an investor participant, please contact with the relevant CCASS participant or intermediary for the details of arrangements that may affect your rights and interests. In such circumstance, you will not receive any AF and EAF for completion.

4. If I live in a place outside Hong Kong, does this mean I am not a Qualifying Shareholder? If a company that owns the Shares is not a Hong Kong Company, does this mean it is not a Qualifying Shareholder?

It is not necessarily so.

Some overseas jurisdictions may not be excluded. The Prospectus (which is expected to be despatched on 9 January 2015) will set out the overseas jurisdictions that will be excluded from participating in the Open Offer and the basis thereof. Please refer to the Prospectus for details.

5. I maintain my securities account with a CCASS participant such as a broker or a bank. Can I still participate in the Open Offer if I live in a jurisdiction that is excluded (as set out in the Prospectus)?

The CCASS participant may not forward to you the Prospectus if you are not a Qualifying Shareholder or if forwarding the Prospectus to you is not permitted by the relevant laws.

Even if you obtain the Prospectus by any other means, you should not participate in the Open Offer. Please seek professional advice from your licensed securities dealer or registered institution in securities, bank manager, solicitor, certified public accountant or other professional advisers if you are in doubt of your liabilities or any aspect of the Open Offer or the action to be taken.

Subscription of Offer Securities

6. If I am a Qualifying Shareholder, what are my options under the Open Offer?

Under the Open Offer, you can consider the following options:-

a. subscribe for new Ordinary Shares at the subscription price of HK$2.60 per Share on the basis of 5 new Ordinary Shares for every 12 existing Ordinary Shares held by you; OR

b. apply for Convertible Securities on the basis of 5 Convertible Securities for every 12 existing Ordinary Shares held by you. Each of the Convertible Securities can be converted into one Ordinary Share at the initial conversion price of HK$2.60; OR

c. partly in the form of new Ordinary Shares and partly in the form of Convertible Securities in accordance with your own proportional allocation.

7. I have ascertained that I am a Qualifying Shareholder. If I want to subscribe for the Offer Securities, what should I do and who should I contact?

If you hold the Shares as a registered member, after you receive the Prospectus, AF and the EAF, you may subscribe for your assured entitlement of Offer Securities (with the maximum no. of Offer Securities as shown in AF) by completing the AF and lodging the completed AF with a sufficient amount of remittance in accordance with the relevant instructions printed thereon. You may also apply for excess Offer Securities by completing the EAF and lodging the completed EAF with the sufficient amount of remittance for such excess Offer Securities in accordance with the relevant instructions printed thereon. But you must do so within the offer period which is not later than 4:00 p.m. on 23 January 2015 according to the latest expected timetable.

If you own interest in the Shares as a CCASS investor participant, or if you own interest in the Shares through a CCASS clearing participant, nominee or any other type of intermediary, you should contact the relevant CCASS participant or intermediary for the timing and procedures of making applications. The last day for you to take up the Open Offer may be earlier than 23 January 2015 because the relevant CCASS participant or intermediary may set an earlier deadline for acceptance for logistical reasons.

8. How is my assured entitlement determined?

The Company will allocate to each Qualifying Shareholder his assured entitlement on the basis of 5 Offer Securities for every 12 existing Ordinary Shares held or owned by that Qualifying Shareholder on the Record Date.

9. Can I subscribe for more than my assured entitlement? What will be the allocation basis for excess applications?

The assured entitlement of each of the Qualifying Shareholders who is a registered member of the Company will be set out in the AFs. Qualifying Shareholder will have the right to apply for Offer Securities in excess of his own assured entitlement by making excess applications but is not assured of being allocated any excess Offer Securities.

If you are a Qualifying Shareholder but own interest in the Shares as a CCASS investor participant, or through a CCASS clearing participant, nominee or any other type of intermediary, you should contact the relevant CCASS participant or intermediary for your assured entitlement. You may also make excess applications but you have to check with the CCASS participant or intermediary for the timing and procedures to do so.

The Directors of the Company will allocate the excess applications at their discretion, but on a fair and equitable basis, to Qualifying Shareholders who have applied for excess Offer Securities, based on a pro-rata basis with reference to the amount of excess Offer Securities applied for by the Qualifying Shareholders who made excess applications. For the avoidance of doubt, the allocation of the Offer Securities in excess of assured entitlement will not be based on the number of the Shares held or owned by the relevant Qualifying Shareholders.

10. Do I receive any preferential treatment in the allocation of excess applications if I have odd lots of shares (similar to most of other rights issue/open offer exercises)?

No. The allocation of excess Offer Securities will be based on a pro-rata basis with reference to the amount of excess Offer Securities applied for by the relevant Qualifying Shareholders. There will be no top-up arrangement.

11. Can I only subscribe for part of my assured entitlement? If yes, what should I do?

Partial subscription will be accepted. A Qualifying Shareholder who wishes to subscribe for only part of his assured entitlement may indicate in the AF (or, where he owns interest in the Shares through a CCASS clearing participant, nominee, custodian or other intermediary or as an investor participant, indicate to the relevant CCASS participant or intermediary) the number of Offer Securities (in the form of shares or Offer Securities, or a combination of both) he wishes to subscribe for. Sufficient remittance should be made according to such number of Offer Securities he has applied for. No splitting of AF is required.

12. If I am a Qualifying Shareholder and do not want to subscribe for the Offer Securities, do I need to take any action?

No, but your assured entitlement will be disregarded and you will not get any compensation from the Company. Please note that your shareholding in the Company will be diluted accordingly if the other Qualifying Shareholders take up their assured entitlements or apply for the excess Offer Securities (in the form of new Ordinary Shares or upon conversion of the Convertible Securities they apply for).

13. Is it an obligation to subscribe for the Offer Securities?

No, but your assured entitlement will be disregarded and you will not get any compensation from the Company. Please note that your shareholding in the Company will be diluted accordingly if the other Qualifying Shareholders take up their assured entitlement or apply for the excess Offer Securities.

14. Can I do margin financing for subscription of the Offer Securities?

The Company will not arrange margin financing. Please check with your own broker, bank or relevant intermediary as to whether it provides margin financing for your subscription of Offer Securities under the Open Offer. Please consider the risks associated with it.

15. Is there any maximum limit to amount of Offer Securities that I can subscribe for? Can I make an excess application over the amount available for subscription?

Please note that the maximum limit of the Open Offer will be:-

a. new Ordinary Shares in the range of 583,728,230 (Minimum Scenario) to 651,897,755 (Maximum Scenario) (assuming that all Qualifying Shareholders elect to apply for new Ordinary Shares); orb. principal amount in the range of HK$1,517.69 million (Minimum Scenario) to HK$1,694.93 million (Maximum Scenario) of Convertible Securities (assuming that all Qualifying Shareholders choose to apply for Convertible Securities).

It is not meaningful for you to apply for more than such amount. Please also note that your subscription (by way of assured entitlement or excess application) has to be supported by valid payment.

16. Can I transfer part of my assured entitlements to my family members/relatives/friends?

No. The assured entitlements are not transferrable.

17. If I do not want to subscribe for any Offer Securities, can I trade my assured entitlements similar to what I did in other rights issue exercises?

No. The assured entitlements are not transferrable or tradable.

18. What is the amount of the Offer Securities will I be entitled to if the number of Shares held by me is an odd number?

The Company will allocate to each Qualifying Shareholder his assured entitlement on the basis of 5 Offer Securities for 12 existing Ordinary Shares held or owned by a Qualifying Shareholder on the Record Date. That means no entitlement will be allocated to the last odd number of Share you hold or own. For example, if you own 1,000 Shares, your assured entitlement of Offer Securities will be 415 Ordinary Shares or HK$1,079 of Convertible Securities (1,000 X 5 / 12 (rounded down to the nearest number) X HK$2.60 X 5) but not 416.67 shares or HK$1,083.33 of Convertible Securities. The fractional entitlement of 1.67 shares or HK$4.33 of Convertible Securities, together with other fractional assured entitlements, will be aggregated and made available for excess applications by the Qualifying Shareholders.

19. When can I get the refund for wholly or partially unsuccessful application?

According to the latest expected timetable, refund cheques for wholly or partially unsuccessful application will be despatched on 2 February 2015 by ordinary post to the applicants at their own risk. If you are a registered member of the Company, you may expect to receive your refund cheque from Computershare starting from that day.

If you own interest in the Shares that are deposited in CCASS, please contact the relevant CCASS participant or intermediary for the details of obtaining the refund.

20. When can I get the certificate for Offer Securities?

According to the latest expected timetable, certificates for Offer Securities will be despatched on 2 February 2015 by ordinary post to the successful applicants at their own risk. If you are a registered member of the Company, you may expect to receive your certificate for Offer Securities from Computershare starting from that day.

If you own interest in the Shares that are deposited in CCASS, the Offer Securities allocated to you will be evidenced by Certificate(s) issued in the name of HKSCC Nominees Limited. If you wish to obtain a certificate for such Offer Securities issued in your name, please require your CCASS participant or intermediary to transfer your new Ordinary Shares or principal amount of Convertible Securities from HKSCC Nominees Limited to you.

21. I do not own your Company's Shares but I am interested to subscribe for the Offer Securities. What should I do?

You may acquire the Company's Shares (in your own name or through a CCASS participant) and ensure that the order of such acquisition is placed on or before the last day of dealings in Shares on a cum-entitlement basis for the Open Offer (expected to be 31 December 2014) and the acquisition is settled by the latest time for lodging transfers of Shares in order to qualify for the Open Offer (expected to be 4:30 pm on 5 January 2015) so that you or the CCASS participant (as the case may be) will be registered as a member of the Company as at the close of business on the Record Date.

Further, you must also be a Qualifying Shareholder at the close of business on the Record Date. Please refer to the FAQs in the section "Eligibility to participate in the Open Offer" for more details.

22. What are the dates of cum-entitlements and ex-entitlements? What will happen on those days?

Last day of dealings in Shares on a cum-entitlement basis (31 December 2014) for the Open Offer means the last day on which the Shares acquired on the open market will carry the right to participate in the Open Offer.

The Shares acquired on the open market on or after the first day of dealings in Shares on an ex-entitlement basis (2 January 2015) for the Open Offer will not carry the right to participate in the Open Offer.

Offer Securities

23. How will the Offer Securities be issued if I own interest in the Shares that are deposited in CCASS (through a CCASS clearing participant or as a CCASS investor participant) and I have subscribed for Offer Securities?

If you own interest in the Shares that are deposited in CCASS, and have subscribed for Offer Securities, the Offer Securities allocated to you will be evidenced by Certificate(s) issued in the name of HKSCC Nominees Limited. You will be informed by the relevant CCASS participant of the amount of Offer Securities allocated to you.

24. Can I trade my Offer Securities on the open market?

a. Yes in the case that the Qualifying Shareholders choose to subscribe for new Ordinary Shares. The first day of dealing in new Ordinary Shares will be 3 February 2015.

b. No in the case that the Qualifying Shareholders choose to subscribe for Convertible Securities. The Convertible Securities will not be listed in Hong Kong or any other jurisdiction.

25. As holders of the Offer Securities, what rights do I have and not have if I choose to subscribe?

If the Qualifying Shareholders choose to subscribe for new Ordinary Shares, the new Ordinary Shares will, upon issue, rank pari passu in all respects with the existing Ordinary Shares in issue on the date of such issue.

If the Qualifying Shareholders choose to subscribe for Convertible Securities, please refer to the section headed "SUMMARY OF THE PRINCIPAL TERMS OF THE CONVERTIBLE SECURITIES" in the Company's announcement dated 16 December 2014.

Further, the terms and conditions of the Convertible Securities ("Conditions") will be attached to each Certificate for the Convertible Securities. The Instrument for the issue of the Convertible Securities (attaching the Conditions) is also available for inspection at the Hong Kong office of Computershare at 17M Floor, Hopewell Centre, 183 Queen's Road East, Wanchai, Hong Kong during normal business hours throughout the Conversion Period.

26. How do I convert my Convertible Securities to Shares?

Any registered holder of the Convertible Securities may, subject as provided herein, at any time during the Conversion Period, exercise the Conversion Rights. Any conversion of the Convertible Securities is subject to the Conditions in relation to (i) the delivery and deposit of the conversion notice (the "Conversion Notice") (the form is set out as Exhibit B to the Conditions) in the manner as set out in paragraph (1) below, (ii) the conversion request not being made after a transfer intention notice (the "Transfer Intention Notice") (the form is set out as Exhibit A to the Conditions) has been delivered with respect to the relevant Convertible Securities or during the period of seven (7) Business Days ending on (and including) any distribution payment date in respect of any payment of distribution on the Convertible Securities as set out in paragraph (3) below, (iii) the payment of Taxes (as defined below) as set out in paragraph (2) below and the fee as set out in paragraph (4) below; and (iv) the Company not being in breach of the public float requirement under the Listing Rules immediately after the conversion. The logistics of the conversion of the Convertible Securities are set out below:

  1. To exercise the Conversion Right attaching to any Convertible Securities, the holder thereof must deliver and deposit at his own expense during normal business hours (from 9:00 a.m. to 4:30 p.m.) at the office of the Hong Kong Share Registrar at Shops 1712-1716, 17th Floor, Hopewell Centre, 183 Queen's Road East, Wanchai, Hong Kong, a duly completed and executed Conversion Notice, which can be obtained at the aforesaid office of the Hong Kong Share Registrar together with the certificate(s) of evidencing the number of Convertible Securities to be converted and the relevant certificate(s) and confirmation that any amounts required to be paid by the holder of the relevant Convertible Securities under paragraph (2) below have been so paid during the Conversion Period. A Conversion Notice once delivered shall be irrevocable and may not be withdrawn unless the Company consents in writing to such withdrawal.

  2. A holder of any Convertible Securities delivering a certificate in respect of such Convertible Securities for conversion must pay directly to the relevant authorities (a) any taxes and capital, stamp, issue and registration duties arising on conversion (other than any taxes or capital or stamp duties payable in Hong Kong by the Company in respect of the allotment and issue of Ordinary Shares and listing of the Ordinary Shares on the Stock Exchange) and (b) all, if any, taxes arising by reference to any disposal or deemed disposal by it of the Convertible Securities in connection with such conversion (together, "Taxes"). The holder of the Convertible Securities must declare in the relevant Conversion Notice that any Taxes have been paid to the relevant tax authorities pursuant to this condition.

  3. No conversion of any Convertible Securities will be effected after a Transfer Intention Notice has been delivered or during the period of seven (7) Business Days ending on (and including) any distribution payment date in respect of any payment of distribution on the Convertible Securities.

  4. A fee will be charged by the Hong Kong Share Registrar for the conversion of Convertible Securities, currently being HK$2.50 per certificate to be issued or cancelled.

  5. As soon as practicable, and in any event not later than ten (10) Business Days after the Conversion Date, the Company will, subject to the receipt of the Conversion Notice and the relevant certificate evidencing the number of Convertible Securities to be converted and the payment of any amounts payable by the holder of the Convertible Securities as required by paragraph (2) above, register the person or persons designated in the Conversion Notice as holder(s) of the relevant number of Shares in the Company's register of members; and will make such certificate or certificates available for collection at the aforesaid office of the Hong Kong Share Registrar.

27. When I convert my Convertible Securities to Shares, can I require that the shares be deposited in CCASS and in my broker's account directly?

Practically, it is not feasible to deposit the Shares in CCASS directly upon conversion. You are free to deposit the Shares in CCASS through your broker or other intermediary once you have collected your share certificate.

28. Is there any time limit I cannot convert my Convertible Securities to Shares?

The restriction in the timing of conversion is set out in Condition 7.1 of the Conditions. In summary, Convertible Securities can be converted at any time after the same have been issued but no conversion is allowed when the Register of Holders is closed.

29. Is there any deadline for conversion of the Convertible Securities?

No.

30. Can I transfer my Convertible Securities to someone else?

Convertible Securities can be transferred in whole or in part at any time subject to all applicable laws, rules, codes and regulations.

31. How can I transfer my Convertible Securities to someone else?

The Convertible Securities are transferrable by way of transfer intention notice (the "Transfer Intention Notice") (the form is set out as Exhibit A to the Conditions). The Principal Registrar will maintain a register of holders of Convertible Securities in the Cayman Islands. The Hong Kong Share Registrar, has been appointed as the branch registrar and transfer agent in Hong Kong to receive documents in respect of splitting and registration of transfer of the Convertible Securities and to submit the same to the Principal Registrar for registration. Any transfer of Convertible Securities is subject to the Conditions in relation to (i) the delivery and deposit of the Transfer Intention Notice as set out in paragraphs (1) and (2) below; (ii) the transfer request not being made after a Conversion Notice has been delivered with respect to the relevant Convertible Securities or during the period of (a) seven (7) Business Days ending on (and including) any distribution payment date in respect of any payment of distribution on the Convertible Securities as set out in paragraph (3) below or (b) the Registers of Holders being closed; and (iii) the payment of the fee as set out in paragraph (4) below. The logistics of any transfer are set out below:

  1. To transfer the Convertible Securities, the holder thereof must deliver and deposit at his own expense at the office of the Hong Kong Share Registrar the Transfer Intention Notice duly completed and signed by and on behalf of the transferor and the transferee, together with the relevant certificate(s) of the Convertible Securities and such evidence as the Company may reasonably require to prove the authority of the individual(s) who have executed the Transfer Intention Notice.

  2. The Transfer Intention Notice can be obtained at the office of the Hong Kong Share Registrar at Shops 1712-1716, 17th Floor, Hopewell Centre, 183 Queen's Road East, Wanchai, Hong Kong, and the completed and signed Transfer Intention Notice may be delivered for registration at the aforesaid office of the Hong Kong Share Registrar between 9:00 a.m. and4:30 p.m. on any business day.

  3. No transfer of any Convertible Securities will be registered (i) after a Conversion Notice has been delivered with respect to such Convertible Securities; or (ii) during the period of seven (7) Business Days ending on (and including) any distribution payment date in respect of any payment of distribution on the Convertible Securities. Each new certificate to be issued upon a transfer of Convertible Securities will be issued within ten (10) Business Days from the date of the transfer request and be made available for collection at the aforesaid office of the Hong Kong Share Registrar.

  4. A fee will be charged by the Hong Kong Share Registrar for the transfer of the Convertible Securities, currently being HK$250.00 plus HK$20.00 per share certificate to be issued using the ten (10) business days' service.

  5. Each new certificate to be issued upon a transfer of the Convertible Securities will be made available for personal collection by the holder entitled thereto during normal business hours(from 9:00 a.m. to 4:30 p.m.) on any business day at the aforesaid office of the Hong Kong Share Registrar from the tenth business day onwards following receipt of the documents specified above by the Hong Kong Share Registrar and upon production of such identification papers as may be reasonably requested by the Company, the Principal Registrar or the Hong Kong Share Registrar.

  6. Where some but not all of the Convertible Securities in respect of which a certificate is issue dare to be transferred, the holder must (i) first split the certificate by lodging it with the Hong Kong Share Registrar and a new certificate in respect of the balance of the Convertible Securities not so transferred will be made available for personal collection by the holder entitled thereto during normal business hours (from 9:00 a.m. to 4:30 p.m.) on any business day at the aforesaid office of the Hong Kong Share Registrar from the tenth business day onwards following receipt of the documents specified above by the Hong Kong Share Registrar and upon production of such identification papers as may be reasonably requested by the Company, the Principal Registrar or the Hong Kong Share Registrar; and (ii) then lodge the split certificate (representing the exact amount of Convertible Securities to be transferred)together with the signed Transfer Intention Notice in accordance with the logistics set out in paragraphs (1) to (4) above. Each new certificate to be issued upon a transfer of the Convertible Securities will be issued in the same manner as described in paragraph (5) above.

  7. No stamp duty will be payable for any transfer of the Convertible Securities in Hong Kong on the basis that the Register of Holders will be kept in the Cayman Islands.

32. Can I split the certificates of the Convertible Securities?

Any holder of Convertible Securities can split the certificate held by him/her/it by lodging it with the Hong Kong Share Registrar during the normal business hours (from 9:30 a.m. to 4:30 p.m.) on any business days at the aforesaid office of the Hong Kong Share Registrar. A fee will be charged by the Hong Kong Share Registrar for the splitting of Convertible Securities, currently being HK$2.50 per certificate using the tenth (10) business days' service, which is identical to the fee charged by it for the splitting of Ordinary Share certificates.

33. Is there any time limit I cannot transfer my Convertible Securities?

No transfer of any Convertible Securities will be registered (i) after a Conversion Notice has been delivered with respect to such Convertible Securities; or (ii) during the period of seven(7) Business Days ending on (and including) any distribution payment date in respect of any payment of distribution on the Convertible Securities. Each new certificate to be issued upon a transfer of Convertible Securities will be issued within ten (10) Business Days from the date of the transfer request and be made available for collection at the aforesaid office of the Hong Kong Share Registrar.

Please refer to Condition 4 of the Conditions for detailed information in relation to the restrictions applicable to the transfer of the Convertible Securities.

34. Is there any matching service for odd lot of Ordinary Shares?

For Qualifying Shareholders who wish to acquire odd lots of the Ordinary Shares to make up a full board lot, or to dispose of their holding of odd lots of the Ordinary Shareholders, they may contact Mr. Choy Ho Yin of China Galaxy International Securities (Hong Kong) Co., Limited (telephone number: (852) 3698 6820) during the period from Tuesday, 3 February 2015 to Tuesday, 24 February 2015. However, it is reminded that successful matching of the sale and purchase of odd lots of the Ordinary Shares is not guaranteed.

Use of proceeds

35. How will the Company use the proceeds from the Open Offer?

The Company intends to apply such net proceeds as working capital to support its next stage of growth and to optimize its capital structure, as detailed under the section headed "REASONS FOR THE OPEN OFFER AND USE OF PROCEEDS" of the Company's announcement dated 16 December 2014.

Information

36. Who should I ask if I have further questions on the Open Offer? Do you have a hotline for this?

You may telephone the Computershare hotline at (852) 2862 8646 during business hours from 9:00 a.m. to 6:00 p.m. Monday to Friday (other than public holidays) from Monday, 12 January 2015 until further notice.

37. Where can I get additional information?

Please refer to the public documents issued by the Company in relation to the Open Offer (including the announcements dated 16 December 2014 and the Prospectus to be despatched to the Shareholders on 9 January 2015 according to the latest expected timetable).

If you hold your interest in the Shares that are deposited in CCASS or are held by nominees, custodians or other intermediaries, please contact the relevant CCASS participant or intermediary for additional information.

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